Are you involved in manpower planning? Why it is important for an organization?

Are you involved in manpower planning? Why it is important for an organization?

Yes. Planning is significant as it helps to determine future personnel needs. It also provides essential information for designing and implementing personnel functions like recruitment, selection etc. It results in reduced labour costs as it helps the management to anticipate shortages and/or surpluses of manpower and correct these imbalances before they become unmanageable and expensive. It enables identification of the gaps of the existing manpower so that corrective training program becomes more effective. It leads to improvement in the overall business planning process. It helps in formulating managerial succession plans.