Essays on Labour Supply and Demand Relationship Coursework

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The paper "Labour Supply and Demand Relationship" is an outstanding example of management coursework. Human resource planning and development is one of the key factors in achieving organizational goals. Therefore, there is a need to concentrate on determining the best strategies and measures to ensure that there is sufficient control in the human resource department. Planning is an essential element in human resource since the company need to plan effectively to ensure there are enough employees to undertake company business effectively. In addition, we need planning in order to ensure that increasing or reducing will improve company profits without affecting the quality of customer service delivery (Wieling & Borghans, 2001).

Human resource planning is therefore essential in identifying company labour demand and analysis of the desired employee to fill in a vacant position. Human development is another important factor in human resource. The main resource of human resource development is to increase employee knowledge and skills in order to enhance their productivity. Consequently, it improves employee self-esteem and satisfaction in the company which is an important factor in reducing labour turnover thus the company will be able to retain employee expertise and cut cost on recruitment and selection (Stone & Deadrick, 2008). Emerging Issues in the Australian labour force has led to a rise in various labour union bodies and concerns by the government through the Australian Public Service Commission (APSC).

The corporate bodies have developed ways of minimizing labour turnover, increasing attractiveness in the labour market and reducing legal actions against the firm with regard to violation of employees rights. The report, therefore, looks at the issues in the labour demand and supply in the Australian labour market basing on Air New Zealand.

The analysis will touch on the current development in the labour market and effect on the labour demand and supply, and players in the labour market (Fairwork. gov. au, n.d. ). LABOUR DEMAND AND SUPPLY Labour demand Labour demand is a function of human resource planning. The human resource department is tasked with the responsibility of determining the firm need for more employees in order to meet its requirements and ease the amount of work done by the current employees. The major steps in the determination of labour demand is an analysis of the current activities of the firm such as if the employees are able to finish work within the stipulated time, demand for firm’ s products or services, expansion and employees leaving the company due to retirement or through resignation. Analysis of labour demand is essential and thus need to carry out due care in order to develop an ideal job post and description to meet the required expertise.

This is important in ensuring that the company attracts employees with knowledge and expertise to fill the gap in the company.

Air New Zealand has an important policy regarding human resource planning where it uses the help of external agencies such as Lawson Williams’ s specialist recruitment and human resource department to determine the labour demand of the institution. The human resource department is required to prepare a monthly report to the top management majorly focusing on concerns of employees and firm’ s position in terms of the availability and sufficiency of the current workforce (Stone & Deadrick, 2008).

REFERENCE

Air New Zealand,. (2014). Annual report. Retrieved 19 March 2015, from http://www.airnewzealand.com.au/assets/PDFs/2014-annual-financial-report.pdf

Australia, N. Office of the Commissioner for Public Employment - Workforce Planning and the NTPS. Ocpe.nt.gov.au. Retrieved 19 March 2015, from http://www.ocpe.nt.gov.au/workforce_planning

Australia, N. Office of the Commissioner for Public Employment - Workforce Planning and the NTPS. Ocpe.nt.gov.au. Retrieved 19 March 2015, from http://www.ocpe.nt.gov.au/workforce_planning

Fairwork.gov.au,. Hours of work - Fair Work Ombudsman. Retrieved 19 March 2015, from http://www.fairwork.gov.au/employee-entitlements/hours-of-work-breaks-and-rosters/hours-of-work

HSBC GLOBAL SURVEY,. (2012). AUSTRALIA THE #1 DESTINATION FOR EXPATRIATES. Retrieved 19 March 2015, from http://www.hsbc.com.au/1/PA_ES_Content_Mgmt/content/australia/about/news/archive/2012/120202.pdf

Narazani, E. Evidences on Household Labour Supply: When Labour Demand is Not Perfectly Elastic. SSRN Journal. doi:10.2139/ssrn.1959803

Stone, D., & Deadrick, D. (2008). Introduction to the special issue: Critical issues in human resource management theory and research. Human Resource Management Review, 18(3), 101-102. doi:10.1016/j.hrmr.2008.07.010

Wieling, M., & Borghans, L. (2001). Descrepancies between Supply and Demand and Adjustment Processes in the Labour Market. Labour, 15(1), 33-56. doi:10.1111/1467-9914.00154

Werner, J M. & DeSimone, R L. (2012). Human Resource Development 6e.6th Ed. Mason, Ohio: South-Western, Centage Learning

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