The national bank and trust company is growing gradually; hence, needs a human resource needs forecast that will help management in planning well for future growth and development. As such, the paper aims at forecasting the selected human resource needs over the next three years for the former branches, main office, as well as the new branches. These needs include establishing employee turnover, the number of new employees required, as well as the total number of employees that will be serving within the bank as of the end of each of the next three years (Breaugh, 2009). The forecasting procedures are as established within the following paragraphs.
Table 2.1 Present Staffing.
Table 2.1 gives the present staffing of the national bank and trust company, which forms the basis for all forecasting done for the organization. On the other hand, table 2.2 gives the employee turnover as at the end of the next three years, calculated as shown below.
Employee Turnover Calculations
- Former Branches: 50no.
- Main Office: 1no.
- New Branches: 38no.
As shown from the above calculations, the following data was obtained for all the identified human resource needs.
Table 2.2 Employee Turnover.
Table 2.3 Number of Employees to be hired.
Table 2.4 Year-End Employment.
From the forecast data, it has been established that 1240, 1238, and 1294 people will be working for national bank and trust company for the year 1, year 2, and year 3 respectively.
Reference
Breaugh, J. (2009). Recruiting and Attracting Talent: A Guide to Understanding and Managing the Recruitment Process. Alexandria, VA: SHRM Foundation.