(Solution) 1.2 Workforce Planning- Forecasting Demand  for Labour; Internal and External Sources of Supply

1.2 Workforce Planning- Forecasting Demand  for Labour; Internal and External Sources of Supply

According to Kapur (2022), workforce planning is important for aligning organisation demands with appropriate people practice strategies. In modern business environment, this is pursued for ensuring sourcing of market and industrial intelligence for guiding management of issues faced and challenges, being ready to adopt set organisation practice. Further, entire issues are managed with the employees being ready to embrace long-term based initiatives as shown in figure 1 summary;

Figure 1: Workforce Planning Approaches

Forecasting Demand for labour–  Through the process of workforce planning, OcMara can adopt qualitative and quantitative approaches in workforce planning to forecast  labour demand.  According to Zoller (2018) forecasting demand for labour is core area in the workforce planning process. The success of this in OcMara would be evidenced by the organisation prioritising on essential positions and expertise which are core in organisation growth, goals achievement and milestones in the near future.   Prior handling the forecasting demand for labour, it is core understanding it is a process of consecutive, thought deeply through a set of actions and decisions evidenced by clear goals. The advantage of this is that the organisation is able to recruit and employ fairly qualified employees in entire job positions to guarantee the work is  pursued in high-level quality and effectively.

Forecasting Supply of Labour–  Adopting the definition of Lagu et al. (2020) forecasting    supply of labour entail measuring the number of individuals with a likelihood of  being available from within and outside the organisation. Allowing for attrition (labour wastage and retirements), absenteeism, internal movements and promotions and the change in hours and other work conditions.  The advantages of this process include ensuring good positioning in forecasting supply of labour and identifying supply indicators. The disadvantages include OcMara failing in  investments in effective resources and success in Human Capital Development.

2.2 Promotion/Demotion Rates; Employee Turnover Rates and Critical Incident Analysis Techniques

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