Job forcasting 210709


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Job forcasting 210709

  1. 1. JOB FORECAST OF ACCOUNTANTAn Human Resource Management Assignment <br />7/21/2009<br />By,Raktim Khakhlari,Rafique Alam,Prasanjit Bordoloi,R.Vikram choudhryRanjan Shankar Shetty. PGDM- IB (2009-11)<br />Job Forecast of accountants for the next Year, <br />Whenever we are forecasting for a job, some important considerations are to be taken so here is the steps required for Job Forecasting:<br /> <br />(STEP – 1) Determining the Human resource Requirements.<br />Finding the requirements of human resource by Expected growth of the company, here is an example of computation, which was done at M/s. Eureka Forbes Ltd., usually this is how the forecasting is done. Whenever we are looking for the requirements the first Step is to prepare a systematic approach where half of the job is done, this allows us having analytical data through which we come to know what the numbers we are looking for and if there are any additions from different branches like transfers, promotions etc.,<br />Details / ParticularsForecast (No’s) 1st year1Numbers of accountants required at the beginning of the year222Changes on requirements based on last year’s performance (Growth)53Total requirements at the end of the year ( 1 + 2 )274Numbers available at the beginning of the year185Additions (through transfers from different regions)16Separation through Promotions, Retirements, etc.,37Total Available at the end of the year. ( {4 + 1} – 6 )168Deficit or surplus ( 3 – 7 )-11<br />By this computation we come to a conclusion that the required numbers of Accountant required at M/s Eureka Forbes Ltd., is 11 (Eleven).<br />(STEP – 2) Preparation of job analysis.<br />The Second step is to Identify what kind of Human resource is required, in simple terms What are the Qualifications that we are looking for, By this we find out whether we should look for internal or external recruitment process, if there is any matching qualifications, then we can allow for internal job posting, or else we can use the external recruitment process.<br />The Preparation of job analysis is similar to job description where we find out the requirements of the particular job in terms of qualification and key Skills required for the job. An example of preparing the Job analysis is as under, this example is done at M/s Eureka Forbes Ltd.,<br />Job Description:<br />Preparing statements day to day transactions.<br />Maintaining Bank and Cashbook.<br />Preparing Petty Cash vouchers, TDS, Service Tax, PF, ESI, Central Excise Returns, Sales Tax (VAT) returns, Filing monthly and annually.<br />Preparing papers of Foreign Remittance for Pre Import and Post Import Shipments.<br />Reconciling of accounts.<br />Qualification:<br />B.Com (Fresher) / CA Inter (Fresher)<br />Specialization:<br />Audit & Risk, Bookkeeping, Company Secretary, Taxation.<br />Job function:<br />Accounting/Tax/Company Secretary/Audit.<br />Designation:<br />Junior - Executive, Assistant Accountant Officer.<br />Key Skills:<br />Accounting, audit, corporate finance, banking, taxation, company law and board secretariat matters.<br />Location:<br />Bangalore, Hyderabad, Hubli, Mangalore. <br />Compensation:<br />Rs.  1, 80,000 - 2, 40,000 p.a.<br />(Step – 3) How the demand is met External or Internal?<br />From the step 1 (determining the human resource requirements) we understand that there is deficit of 11 numbers, to fulfill the demand of Accountants we need to decide whether we have to recruit internally or externally so to decide which the best option is, we find the solution in 3rd step, for internal recruitment this is called Succession planning, or for External Recruitment.<br />Internal Recruitment (Succession Planning):<br />We need to realize the following details:<br /><ul><li>Roll out an IJP (Internal Job posting) with the following Job analysis,
  2. 2. Allow all the applicants to apply.
  3. 3. Shortlist the applicants who have desired qualification and skills.
  4. 4. Make the applicants apply for examination, with a Personal Interview, </li></ul>Hence the number of vacancy is 11 (eleven) position, Internal Recruitment would be difficult.<br />External Recruitment:<br /> Can be through Walk in, Newspaper advertisement, But there is a growing demand for Campus recruitment. Hence the best type of external recruitment is to adapt for Campus Recruitment, Here is a tabular explanation of the pass out students in Colleges from different city’s/ towns.<br /> <br />City’sCommerce CollegesNumber of studentsBangalore425040Hubli12960Hyderabad363600Mangalore141100Total10410700<br />There are enough Commerce Colleges and number of student pass out to meet the demand of M/s Eureka Forbes Ltd. Even if the company goes to one college to recruit 11 positions then for the Human resource would be healthy.<br />