Statistical and judgmental approaches

Basing data on the previous years and then applying it to future needs/forecasted results, draws from both statistical and judgmental approaches.

BUT, what happens if the company is a start-up and there is no data to draw from?  Applying the opinions of HR or executive may be the best option.  Thoughts?

An organization may use data to forecast staffing needs by estimating the number of future openings based on turnover, retirement, etc.  Of course, having up-to-date job descriptions is important so that KSAO’s are known.

Using the judgmental approach only can be problematic as we must consider bias.  HR/managers may endeavor to be objective, however it can be a difficult, if not an impossible, undertaking.

One of the concerns about relying on data is that the data must be accurate.  One of the comments we make about HRIS systems is that if not stored correctly, it is more about garbage in – garbage out.

Thoughts?  Others?