Executive search software helps in analyzing the overall organizational plan and the derivative plans like the production plan, technological plan, plans for expansion, marketing plan, sales plan and finance plan. Each plan can be further analyzed into sub-units. Detailed programs should be formulated on the basis of unit wise plans. The practicability of each program should be ensured. It is worth mentioning in this regard that analysis of organizational plans and programs helps in forecasting the demand for human resources, as it provides the quantum of future work activity.
The existing job design and analysis are reviewed by executive search software, keeping in view the future capabilities, knowledge and skills of present employees. Job analysis and forecasts about the future components of human resources facilitate demand forecasting. One of the important aspects of demand forecasting is the forecasting of the quality of human resources (skill, knowledge, values and capabilities) in addition to quantity of human resources.
The first step of forecasting the future supply of human resources is to obtain the data and information about the present human resource inventory. The data relating to present human resources components can be easily obtained through executive search software. The second step of supply forecasting is the estimation of future losses of human resources of each department and of the entire organization. Potential losses to the organization include quitting, deaths, retirements, dismissals, layoffs, disablement due to ill-health, or accidents.
Executive search software helps management to calculate the rate of labor turnover and conduct exit interviews. This helps to forecast the rate of potential loss and reasons for loss, and also help reduce loss. Similar to potential loss, there will also be additions to the present inventory to human resources. Potential additions are three types: permanent total, permanent partial and temporary total. After estimating the future supply of human resources, the sources of supply should be analyzed with a view to ensure the availability.