The document discusses the HR planning process, which involves assessing organizational objectives and strategies, conducting external and internal environmental scans, forecasting future HR needs, analyzing current HR supply, and developing HR strategies and plans to balance future demand and supply. The key elements are forecasting demand, performing a supply analysis, and balancing supply and demand. Top management and HR are responsible for the process, though each department head provides input on their future needs. The goal is to plan strategically for future HR requirements and have the necessary personnel and skills.