what is hrp

HRP stands for Human Resource Planning, which is the process of forecasting the future human resource requirements of an organization and determining how the existing human resource capacity of the organization can be utilized to fulfill these requirements. The objective of HRP is to ensure that an organizations greatest asset, its employees, are used to their best ability while avoiding workforce shortages or surpluses. The HRP process consists of four important steps: analyzing current labor supply, projecting demand, balancing demand with supply, and assisting in the achievement of organizational objectives. HRP is a crucial investment for any company since it allows them to remain productive and profitable.