9-Approaches in Hr Planning

8/14/2019 9-Approaches in Hr Planning

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Approaches to Human ResourcesPlanning

There are three options to anyeducational planner.

The first option is to treat theeducation as consumption of goodsand demand for education as an

aggregate of individual consumersdemand of schooling, and to providethe facilities for education and training

accordingly.


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The second option is to view education an

investment in goods, evaluate the investments

in education at par with the rate of return on

investment in physical capital.


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The third option is to considered skilled

manpower as basic inputs to the production

of goods and services within the economy;

assess the skill requirements to achieve any

predetermined economic growth target,

and to gear the expansion of educational

system to provide the needed education and

training.


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1 Social Demand Approach

The social demand approach relies on anassessment of societys requirement foreducation.

In principle, it is an aggregate of demand foreducation in respect of all individuals within thesociety.

It is not always possible, particularly in largesocieties, to assess individual demands foreducation.

In practice, therefore, social demand approachrelies on projection of past trends in demographicaspects of population and the enrollment atdifferent levels of education.


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Projections of social demand for education arecontingent upon given levels of:

Income of educated people,

Taste and references of household for education,

Demographic characteristics such as fertility andmortality,

Direct costs of education,

Student grants, and

Existing standard of admission to various levels ofeducation.


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2 Rate of Return Approach

Critics of social demand approach arguethat the decision to choose more or less ofeducation, beyond a legal school-learning age,is made by an individual who attaches a

positive value to the present and the futurebenefits of education.

Demand for education, should then be basedon an aggregate of individuals assessment ofbenefits of education-reflecting the socialbenefits.


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Rate of return approach

to education looks upon education as a

contributor to productivity and in this sense,

it is expected to facilitate investment decisions

in education


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There are thus three parameters involved in the

estimation of rate of return.

Costs of education,

Returns to education, and

Discount rate (used in discounting future

returns to arrive at present value).


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3 Manpower Requirements Approach

The fundamental saying of manpowerrequirements approach is that there is a

definite link between education and

economic growth, and that lack of skilledmanpower in required numbers impedes

growth.


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In this approach an attempt is made to

forecast future requirements of educatedmanpower to fulfill a future target of Gross

National Product (GNP) or specific targets of

industrial production. Based on the forecasts of educated

manpower requirements over a specified

period, the planners would then indicate thedirections of development of the educational

sector.


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approach-approach conflict?

Approach approach conflict is a

conflict where you feel like gettingthis as well as that. Example: Got

two nice jobs but have to go to one.

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9-Approaches in Hr Planning