Human resource planning involves the assessment of both the future demand and the future supply of the various types of labour needed by the organization.

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Human resource planning aims to ensure that the organization has the right quantity and quality of people at the right time to achieve its objectives. This requires analyzing the workforce requirements based on factors such as business strategy, organizational structure, job roles, skills and competencies, and market trends. By forecasting the demand for labour, HR can identify potential gaps between the current workforce and the future needs of the organization. Similarly, by assessing the supply of labour, HR can determine whether there are sufficient internal resources (e.g. existing employees, succession planning, training and development) and external resources (e.g. recruitment, retention, outsourcing, partnerships) to meet the demand. The ultimate goal of human resource planning is to facilitate effective utilization of human capital and minimize the risk of labor shortages or surpluses that can affect the organization's performance and competitiveness.

Human Resource Planning Involves the Assessment of Both the Future