Budgeting for manpower planning

Manpower planning is also important because it generates mechanisms that educate the employees of the banking institutions in the UAE (Yogesh 2009). The other importance of manpower planning for the nation is the fact that it fastens the process of economic development besides boosting the ability of the labor force to move geographically (Yogesh 2009). Similarly, it is through human resource planning that a smooth working environment can be created by the banking institutions in the UAE been as they expand their business operations.
At the same time, manpower planning also provided avenues for the organizational employees to receive promotions in future (Yogesh 2009). This means that the process of human resource planning acts as an incentive to the employees of the banking institutions in the UAE when it is used as mechanism of promotion (Bratton & Gold 2003). Manpower planning also is only a healthy avenue by which encouragement and motivation can be done among the banking institutions in the UAE (Yogesh 2009). In the same way, human resource planning strengthens process of training in the banking institutions in the UAE (Yogesh 2009).
It is worth noting that manpower planning assists the banking institutions in the UAE to employ only the right employee for the right job (Ashwini 2009). In this regard, a well carried out process of manpower planning can really assist the banking institutions in the UAE to minimize attrition and processes in the long-term (Bratton & Gold 2003). The other advantage of manpower planning arises from the fact that it works in tandem with the business plans of the banking institutions in the UAE (Ashwini 2009).

This means that a manpower planning exercises that is well executed goes along way in ensuring that the banking institutions in the UAE consistently meets the needs of the customers and the clients (Ashwini 2009). This is likely to be so for the simple reason that the manpower planning process is carried out bearing in mind the output needs of the banking institutions in the UAE. Human resource planning offers the employees of the banking institutions in the UAE the opportunities to develop their careers (Yogesh 2009).
This is also related to the advantage that manpower planning improves the competency of the employees. Thus, how competent the employees of the banking institutions in the UAE are, will improve with the process of manpower planning since the skills needs will be churned out in a proper manner (Ashwini 2009). The final advantage of manpower planning is the fact that it can lead to the growth of the workforce within the banking institutions in the UAE since the training and development is extensively made use of (Bratton & Gold 2003).
The main disadvantages of manpower planning are the complications and the costs associated with the processes that make it up (Winfred at al 2001). The firsts challenge is the fact that forecasting is a very complex process. It is important to note that it is quite cumbersome determining the best project. The other disadvantage is the fact that it is especially expensive to determine the organizational objectives. Another disadvantage arises from programming and scheduling of the procedure (Yogesh 2009). The other disadvantage is that budgeting for manpower planning is a tedious exercise.
The managerial judgment model of manpower planning has the main disadvantage that it simply depends on the best guesswork by the managers, something that could have potential flaws (Yogesh 2009). The statistical evaluation model of manpower planning has the main undoing in the sense that it could be influenced by the absence of accurate information as well as absence of stability. The forecast of productivity method of manpower planning has the main undoing that productivity could be influenced by other factors like staff motivation (Yogesh 2009).
The disadvantage of work study method of manpower planning is that it can be tedious process in a case where it is not easy to measure work such as in the case of policy development (Yogesh 2009). The final disadvantage arises from the difficulty of putting in place as well as the development of policies. For instance, there is a difficulty in determining the work processes if the work cannot be measured. It is also worth noting that at times, the issue of downsizing which is usually associated with manpower planning can at times be a disadvantage since it could lead to job loss to many people (Yogesh 2009).