Different techniques which are based on this model are: Naive Forecast: Uses last period's actual demand value as the forecast for current period. Simple Mean Forecast: Simply sums up the demand values and finds the mean. Simple Moving Average Forecast: Finds the mean but, considers only specified time period.How is human resource demand forecasted in an organisation?
Past-experience of the management can help in translating the work-loads into number of man-hours required. Thus, demand of human resources is forecasted on the basis of estimated total production and contribution of each employee in producing each unit items . The following example gives clear idea about this technique.What is a ratio analysis of HR forecasting?
Ratio analysis is one means of ensuring that you have the right amount of employees for the amount of work by determining the number of employees needed based on some element of production or sales. Ratio analysis is the beginning of HR forecasting; it is not the entire process.