* Experience-Based Forecasting: Managerial judgment relies on the experience and insights of managers to predict future workforce needs. This method is versatile and can be applied across various industries.
* Holistic View: Managers can provide a comprehensive view of workforce requirements based on their understanding of the organization's strategic goals, market conditions, and internal capabilities.
* Adaptability: This method is flexible and can be adjusted based on real-time changes in the business environment, making it suitable for dynamic and rapidly changing industries.
* Practical Application: Managerial judgment is practical and straightforward to implement, especially in organizations where historical data may not be readily available or where unique industry factors must be considered.
References:
* SHRM-SCP Exam Content Outline
* SHRM guidelines on workforce planning and demand forecasting methodologies