Final answer:
The correct answer is option c. The first step in the human resource planning process is analyzing organizational plans and objectives, setting the stage for subsequent steps such as demand forecasting, matching demand and supply of labor, and monitoring.
Step-by-step explanation:
The first step in the human resource planning process is (c) Analyzing organizational plans and objectives. This involves understanding the strategic direction of the company and its future needs in terms of human capital.
Before an organization can address the issue of matching demand and supply of labor or engage in demand forecasting, it must first have a clear understanding of its goals and objectives. Understanding the organizational plans ensures that human resource planning is aligned with the broader goals of the company, effectively setting the stage for the subsequent steps in the planning process.
In essence, this step provides the context and basis for the rest of the process, including demand forecasting, which estimates the future human capital needs, and matching demand and supply of labor, which involves finding the right balance between the available workforce and the number of employees required. Lastly, monitoring ensures that the human resource plan remains valid and that the organization's human capital needs are being met over time.