Final answer:
Human Resource Planning helps organizations by reducing bias in hiring, improving human capital, and developing comprehensive HR strategies. These strategies lead to increased productivity and a better contribution to the economy.
Step-by-step explanation:
Human Resource Planning (HRP) is a systematic process that helps organizations align their human resources with their business goals. It offers several benefits:
- Firstly, it professionalizes human resources functions, potentially reducing bias in the hiring process. For instance, in Canada, research has shown employers are less likely to discriminate against Asian-sounding names in organizations with professional HR strategies.
- Secondly, HRP focuses on improving human capital through health, skills, and knowledge upgrades, which are fundamental for business productivity. Whether it's through education, apprenticeships, or staff training, HRP ensures employees are well-equipped to perform their roles effectively.
- Moreover, it supports the development of comprehensive human resources strategies encompassing recruitment, staff policies, and practice management, leading to improved overall business operations.
By investing in human capital and ensuring a diverse and skilled workforce, HRP plays a crucial role in increasing a company's productivity and contributing to the broader economy.