Answer:
Please see the details
Explanation:
The effects of impending labor shortage might effect
a) Selection and Management are getting tougher with lack of active candidates seeking for job or lack of skilled candidates attending the placement process. There is lack of required skills for the job role and hence this subsection needs to send job proposals to even passive job candidates at competitive prices and incentives to attract them towards the company.
b) Training and Career Development is facing reduced number of applicants and they need to put in a lot of effort in order to make the selected candidates learn the required skills suitable for the job. This department is facing a lot of issues as the time and cost invested in training is increasing with increasing labor shortage.
c) Compensation and Benefits is to be prepared to pay more to attract and retain employees. Increased compensation is a fact of life in the early phase. By being prepared, managers can ensure that they are not the last to increase compensation and thus end up with the worst of the labor shortage. For example: it's either the worst candidates or no candidates at all.
The ways that might develop joint, cooperative programs to avert a labor shortage is by :
a) Increasing the number of applicants
- Influencing and expanding the gate keeping institution ( Schools
and training's to expand the production of graduates)
b) Maintain the supply by reducing the flow of workers out of the firm
- Reducing absenteeism
- Efforts to reduce voluntary quits by improving sources of
dissatisfaction
c) Reducing Labor demand and the overall need for a new workers
- Using contingent workers to meet peak demand,
