The process of preparing a set of decisions for action in the future is called planning. Human Resources planning may then be interpreted as a process of the preparing a set of decisions on human resources development for action by human resources in future. The measures required on the part of human resources planning are mainly of two types:
- Availing of the employment opportunities, and
- Evolving the new technologies for the enhancement of economic development.
There are majorly three types of investments which have the potential and contribute to the human resources development. They are the basic investments in: fitness and nourishment, training and education.
The first two types of the investment can only contribute to the accumulation of the human beings in terms of physical capacity to work, health and socio-economic status. It is the last one, i.e., training and education, which is directed towards development of skills in human beings that changes the future skill value, productivity and earning power of human beings. This is the human center approach to human resources planning. It attaches main importance to investment in the field of education training and retraining as a means of human resources development.