(a) Why must managers have a good understanding of workforce demand and supply? (b) How does this understanding impact their organization's strategic planning process?

Question:

(a) Why must managers have a good understanding of workforce demand and supply?

(b) How does this understanding impact their organization's strategic planning process?

Workforce:

Workforce is a term used to describe the individuals engaged in or available for work in a specific company, region, sector or industry.

Answer and Explanation:

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A good understanding of workforce demand and supply is essential to understand the level of compensation that should be paid to attract and retain...

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Workforce Analysis Considerations: Staffing & Planning

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Chapter 6 / Lesson 2

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Learn what workforce planning is. Identify the definition of workforce planning, and discover how to conduct a workforce analysis by reviewing examples.

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(a) Why must managers have a good understanding of workforce demand and supply? (b) How does this...

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