Human resource planning is an important tool for human resource managers to analyze promotion, demotion, and lateral job movements within an organization. It also helps managers plan for employee attrition and ensure the organization has the right employees with the necessary skills at the right times. Effective human resource planning uses techniques like managerial judgment, ratio-trend analysis, work study, and the Delphi technique to forecast personnel needs and help organizations adapt to changes in technology, markets, and regulations.