|Designing an HR Plan
Your company has recently approved a 5-year strategic plan (2020-2025) to guide its operations into the future. The company projects in the plan to increase production by 120% within the first three years. However, it is projected that due to intense competition, production will decrease by 30% in the 4th year and a further reduction of 20% in the 5th year. The company’s current headcount is 350 permanent employees and additional 100 fixed term contract employees. In recent times, the Engineering department of the company is finding it difficult to recruit Subsea engineers to support its operations
1. Design a five-year HR plan for your company based on the above scenario.
2. Explain HR strategies you will adopt to address any labour surplus or deficit that will occur based on your HR Plan.
Criteria for Assessment