It is an assessment of future needs of the business and deciding the number and types of people required. It links people management with the organizations vision and mission. Key goal is to get the right number of people with the right skills, experience, attitudes in the right jobs, at the right time at the right costs.
2) Elaborate on how to cope with labor surplus
Layoff Early retirement Pay cuts Seasonal hiring Hiring freeze and retraining
3) Examine ways to overcome labor shortage
Improving the recruitment process Upgrading the training process Re-examine your management style Encourage and offer opportunities for growth
4) Examine the difference between validity, reliability and generalizability
Validity- refers to the accuracy of a measure Reliability- refers to the consistency of a measure Generalizability- degree to which the validity of a selection method established in one context extend to other contexts.
5) Delineate the methods used in selecting human resources
Screening applicants Phone or video screening In-person interviews Selections tests Reference tests