Thus, we can say that human resource planning is the process of developing and determining objectives, policies and programmes that will develop, utilize and distribute manpower so as to achieve the goals of the organization. It is a two-phased process by which management can project the future manpower requirements and develop manpower action plans to accommodate the implications of projections. Thus, human resource planning may be expressed as a process by which the management ensures the right number of people and right kind of people, at the right place, at the right time doing the right things. Human resource may be regarded as the quantitative and qualitative measurement of labor force required in an organization and planning in relation to manpower may be regarded as establishing objectives to develop human resources in line with broad objectives of the organization. When these individual losses are added up the total losses may be very significant to the economy of a nation. The losses a firm suffers from inadequate human resource planning and utilization, is a loss to the nation. The success of a human resource planning process not only helps the organization itself, but also helps the society’s prosperity. Any forward looking management will be concerned with the problem of procuring or developing adequate talent for manning various positions in the organization. So the success of any organization mainly depends upon the quality of its human resource and their performance. Though all the firms buy the same material and machines, the people in a firm make the difference in the final product. The human resource asset in a firm has the potential to appreciate the value of the firm. Human Resource is the most vital factor for the survival and prosperity of the organization.
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