HR Glossary

HR terms frequently used by HR professionals.

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Demand modeling 

What is demand modeling?

Demand modeling uses predictive analysis to forecast workforce demand and adapt it to an organization’s goals.

What are the standard techniques for demand modeling in HR?

The common models used by HR professionals for demand modeling are:

1) The Markov model

2) Workload analysis

3) Managerial analysis

4) Nominal group technique

5) Delphi technique

What are the factors that affect demand modeling?

Internal factors that affect demand modeling include:

An organization’s budget for human capital
Introduction of a new product or service
Production levels
Organizational structure

External factors that affect demand modeling include:

Local and global competition
The country’s economic scenario
New governmental rules and regulations
Technological advances

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