Workforce_Planning_Task_1_Template.docx 234 Task 1: Workforce Planning, Recruitment, & Selection A1. Discuss 3 factors that are influencing labor demand. 1.Business needs, like what the overall goal of a project
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Workforce_Planning_Task_1_Template.docx 234 Task 1: Workforce Planning, Recruitment, & Selection A1. Discuss 3 factors that are influencing labor demand. 1.Business needs, like what the overall goal of a project or business is, influence demand because it determines how many and what positions are created. When faced with an over-arching goal of profit, you may want to operate at a lower employee pool than if your goal is to expand. 2.Budget influences demand because it limits how many positions the company can open reasonably. Employees cost money not only hourly, but to hire then and train them is a big upfront cost. If the budget is too low, it can undercut a business in need of more employees. 3.What SMEs should be hired internally versus outsourced or contracted influences business demand because it creates different types of job openings dependent on the situation. A2. Discuss 3 factors that are influencing labor supply. 1.The amount the position pays influences labor supply because a lower paying position will bring in less applicants. If a competitor is offering a higher wage for the same job, more qualified candidates are going to seek out those job positions and wont bother to apply for the lower paying company. 2.The industry the job position exists in influences supply because it defines and narrows down the pool of qualified candidates. An IT project manager role in Healthcare will have different experience or career wants than an IT project manager in education. 3.The location of a bu. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . .
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