Why do organizations forecast

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Why do organizations forecast? What does it mean?

Forecasting allows for organizations to create and budget for future needs. Anticipating and expecting allows management to determine how many employees and what costs are associated with a particular task or assignment. There are a number of circumstances that can change the forecasts. Things like turnover, absentee rates, employees out on a leave of absence, and drop in sales all can impact a forecast.

One key consideration in the planning is to involve HR. Why do you think HR is part of this process? Share your thoughts.

Reference no: EM132823297

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