What are various forecasting techniques and how these techniques are being used in human resource planning?

Answer:
Forecasting techniques used are trend analysis, ratio analysis, and linear regression .

Regression Analysis:

Projection of future demand is based on the past relationship between the workforce level and the basic factor on which the demand is assumed to depend.

Example1:

Size of Hospital

(No. of Beds)

Number of Nurses

200

240

300

260

400

470

500

500

600

620

700

660

800

820

900

860








y=1.044 X - 28.13
R2 = 0.973


Example2:

Sales / 1,000,000 JD

Number of Sales men

2.351

164

2.613

235

2.991

299

3.211

318

3.412

325

3.621

341

3.814

352
















y = 0.007x + 0.974
R² = 0.906
First answer by ID1209755182. Last edit by Faten csb jordan. Contributor trust: 0 [recommend contributor recommended]. Question popularity: 29 [recommend question].