Supply, Demand and Diversity Factors in the Workforce of Australia”

Topics: Supply and demand, Employment, Australia and New Zealand Banking Group Pages: 3 (835 words) Published: May 8, 2011
1.Labour Supply Analysis (to determine if the number and types of employees required are available when and where they will be needed). You should analyze current workforce’s capacity to meet current and predicted demands for business goods and services.

The process begins with the internal analysis of existing employees in the company. If the number or mix of staff are not sufficient or not meet the requirements, the search for external information is required. Theses information can be obtained through the intranet, policy documents, divisional reports and etc. The beginning is made a list of current employees to identify future skills. This analysis includes an audit of current skills of each employee. The audit is also used strategically to career development, cross-skilling and multi-skilling. Even with the availability of these resources, the greatest challenge is also to establish a dialogue with the staff to meet the goals and aspirations them and also if they want an opportunity to grow within the company. According to new research, companies are not giving the right support to their staff. Without opportunities, employees are going away. For this reason the skills shortage and staff turnover still are being a problem. People need to feel purposeful and valued about where the organization is going. The companies need to create strategies to retain their talent and this is the main feature that ensures competitiveness, much more than material resources, financial and technological. The ANZ bank has a supply intensive with over 15.000 suppliers providing good and services that keep their operations. Their focus is on strengthening their relationship with local suppliers in all markets and their supply chain is located in Australia, New Zealand, Singapore, Hong Kong and India.

2.Labour Demand Forecasting (estimating the number and type of employees needed to meet organisational objectives). Using (not just repeating) the labour supply data or...
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