HRP is the process by which an organization ensures it has the right number and type of employees at the right time and place to achieve organizational objectives. It involves forecasting future human resource needs, planning programs to meet those needs, and evaluating the effectiveness of programs. HRP is important for preparing employees for the future, managing talent, adapting to changes like expansion or new technologies, controlling costs, and succession planning. Benefits of effective HRP include improved human resource utilization, coordination of HR activities with organizational objectives, and achieving strategic goals.