Manpower planning involves determining current and future workforce needs and ensuring adequate staffing levels. It has two stages - planning workforce requirements and planning workforce supply to meet requirements. The objectives of manpower planning are to achieve optimum productivity through a skilled workforce, reduce labor costs, enable effective recruitment by anticipating needs, and promote group satisfaction. The manpower planning process involves setting goals, auditing internal resources, creating a recruitment plan, estimating future structure and needs, and developing a human resource plan. Factors that affect manpower planning are the existing workforce levels, anticipated wastage like turnover, future requirements, and expected retirements or departures.