Describe how HR Budgets and staffing tables are applied in HR demand forecasting.

HR budgets are quantitative, operational, or short-run demand estimates that contain the number and types of personnel required by the organization as a whole and for each sub-unit, division, or department.
∙ HR budgets are prepared by the HR staff in conjunction with line managers.
∙ They consider historical trend information, competitor staffing practices, industry and professional associations, and Statistics Canada.
∙ They give a prediction or single estimate of future HR demand.
∙ The HR budget process produces a staffing table.
∙ Staffing tables have information related to specific operational assumptions (for example, increasing sales by five percent over last year).
∙ Staffing tables present the total HR demand requirement for operational or short-run periods.