What is Labour Demand Forecasting

This chapter examines the future of workforce planning in contemporary work organisations. Workforce planning is regarded as one of the essential human resource management (HRM) activities in recent times. The reason is that it gives indication on areas of needs and serves as the pillar for all HRM activities such as job analysis, recruitment and selection, training and development, remuneration/rewards, and promotion. A review of empirical literature reveals that workforce planning has a strong relationship with organisational performance as well as productivity. This chapter submits that HR metrics and workforce analytics can be used as a tool to improve organisational outcomes. To boost human activity, intelligence apps and analytics or cognitive analytics robotics could be adopted to improve HR's value to the business.