Human Resource Supply and Demand

Labor supply is the availability of workers who possess the required skills that an employer might need. Labor demand is the number of workers an organization needs. Estimating future labor supply and demand and taking steps to balance the two require planning.

Human resource planning (HRP) is the process an organization uses to ensure that it has the right amount and the right kinds of people to deliver a particular level of output or services in the future. Firms that do not conduct HRP may not be able to meet their future labor ...

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