Final answer:
The statement is true.
Step-by-step explanation:
The statement that the starting point for human resources planning is the firm's overall strategic plan is true. Human resources planning is an integral aspect of a firm's strategic plan because it involves ensuring that the firm has the right number and kinds of people with the necessary abilities and skills at the right places and times to fulfill the firm's objectives. The process comprises thoughtful investments in human capital and includes activities such as hiring, training, and development to enhance employee performance and ensure alignment with the company's goals.
For instance, in a technology firm focusing on innovation, the strategic plan may highlight the need for research and development talent. Consequently, the human resources department would then plan to recruit and develop individuals with those competencies. Similarly, if a company plans to expand into international markets, the strategic plan would define the need for employees with international business experience and multilingual skills, guiding the HR planning process in that direction.
Moreover, professionalizing human resources functions can also help in reducing bias in the hiring process, ensuring the recruitment strategy is aligned with the larger strategic plan and the firm's commitment to diversity and inclusion. In summary, human resources strategies and planning are directly derived from and should support the overall strategic plan of a firm.