Hrm Summary: Magnum Financial Services Ltd (MFSL) is a reputed financial services company with more than 4000

employees working all over in India in their 12 branches The company is into managing funds from high net worth individuals, collection of fixed deposits from corporate houses and also from the general public It has got approval from Securities Exchange Board of India(SEBI) to launch mutual fund products and thus requires people with necessary skills. It centralizes its manpower planning activities to its corporate head quarters (New Delhi)

Ans1

Review of Organizational Objectives:

The first step is to study and review the organizational objective. This will enable the organization to make proper list of the activities that wud be required to achieve the objectives. MFSL is a company that has a good name of itself in the mkt and thus the company s organizational objectives wud be needed for review The organization can determine the required work force in terms of qty & quality A proper job analysis needs to be conducted at this stage.

Personnel Requirement Forecasts:

The human requirements forecast must be both in terms of qty & quality The company requires 25 employees ,thus demand is for 25 eligible candidates

Personnel Supply Forecast:

This is the availability of the human resources available In our case, 150 candidates have been shortlisted for the interview.

Make Comparison:
Comparison is done between Personnel Supply & Personnel requirement so as to find out whether the required personal is available or not.

If no difference:
If human resource requirements are equal to human resource supply, no action needs to be taken.

If there are differences:

There may be personnel surplus or personnel shortage Action needs to be taken.

Monitoring Personnel Requirements

Ans3
The need for decentralisation is felt when the business grows in its size which necessiates diversification of office activities . So Yes it is advisable to decentralize the hiring process becoz

Distribution of burden of top executive Facilitate effective control and quick decision
Better Co-ordination

Diversification of Activities Greater efficiency and output Increased motivation and morale