Workforce Planning Flashcards
1
Q
Workforce plan
A
Sets out a business’s future labour needs and details how it intends to meet these.
2
Q
Features of a workforce plan
A
Analyse the existing workforce
Assess future demand for labour
Identify gaps in the workforce
3
Q
Factors affecting a workforce plan
A
Market demand
Financial position
Corporate objectives
Strength of the current labour supply
External factors - STEEPLE
4
Q
Advantages of workforce planning
A
Helps a business achieve the corporate objectives
Encourages managers to prepare and plan for changes
5
Q
Disadvantages of workforce planning
A
Cost
Employer / employee relations
Training needed
