In general, the paper 'Scenic Treasures Limited Business Strategy" is a good example of a management case study. The human resource function is an essential resource for the execution of Scenic Treasures Limited business strategy. It helps the organization accomplish its set objectives and aspirations. Human resource strategy and planning are part of the human resource process that is designed to help Scenic Treasures achieve the organizational goals and strategy. One of the roles of human resource department is the development of a workforce plan (Werner & DeSimone, 2012).
It ensures that the company has an efficient and competent workforce that will help the firm meet the current, as well as future needs. The other crucial role in the establishment and implementation of policies that control the operations of the organization. A report released by the Australian Human Resources Institute argues that the majority of the organizations are faced with the issues of labor demand and supply. It also argues that the government is doing less to address these problems (Robert, 2012). The primary aim of this paper is to outline the issues that I believe are influencing labor demand and supply of Scenic Treasures Limited.
In addition, the paper identifies some forms of information and data that the company needs to ensure that these issues are accurately understood. Labor Demands The term Labor demand means the need for workers in a certain market segment. Numerous labor indicators help access the market and forecast on business growth. They include job advertisements, vacancies, and business surveys among others. In Australia, the Australian Bureau of Statistics (ABS) conducts business surveys including issuing information on labor demand (Paludi, 2012).
Recently, the ABS agency released a report arguing that Australia is experiencing a decrease in the number of indicators and employment growth has subdued. It proves that these signs play a significant role in fostering employment growth. Scenic Treasures Limited engages in numerous activities during the hiring of new employees in order to select the best candidates for the job. Jobs also vary according to the experiences, qualification, ability and skills needed (Bandt & Haines, 2012). Further, there are costs associated with the hiring process.
At equilibrium, the marginal product and revenue are equal, and anything that alters these variables will move the curve thus affecting the demand for labor. One of the factors influencing energy demand in the organization is seasonal periods. The tourism sector has a high, peak as well as low seasons. Demand for labor is always high during peak and high seasons. It is easy to forecast these periods in the future because each has a particular time that it occurs (Rothwell et al. , 2010). The management of this company employs additional casual workers during these periods to meet the rising demand of the business.
The casual workers work together with the permanent members in order to cater to the changing needs of the enterprise. The company reports show that over 15% of the casual workforce is required during peak, and 9% required during the high periods. In accordance with the Australian Bureau of Statistics (ABS), the casual workforce is at a rate of 25%. It means that the firm employs fewer casuals as compared to the threshold rate required (Bandt & Haines, 2012). More than 80% of all the employees at Scenic are contracted on a permanent basis.
It means that they enjoy the privileges and benefits that are provided in the laws governing employment contracts. The company has numerous benefits that it derives from the employees. Workers are also provided with opportunities for career advancement and growth. The advantages and terms of employment ensure that workers are satisfied and motivated in order to increase productivity (Werner & DeSimone, 2012). The company report shows that in the previous year, only 3% of the workers left the organization.
It is an indication of low labor turnover in the body. The ABS argues that a rate of over 8% workforce turnover represents an unstable workforce. The firm rate is below this rate suggesting a stable workforce.
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