Labour Supply
While the supply of young people is reducing, the supply of older experienced workers is increasing. Simply put, supply may not be as big an issue if competent baby boomers can be encouraged to stay in the workforce.
But that will require that jobs are created that people want to do.
Workforce planning is the balancing of work demand and labour supply.
Some of the questions around this include:
- What kind of people do you need?
- What will you do if they aren't available?
- What flexibility do you have to meet labour supply?
It is also helpful to consider matching employees to clients. For example, if the clients are all young (for instance, in the youth fashion industry) a young staff may be most appropriate. If the clients are older professionals, then more mature professional staff may be more appropriate. In many commercial areas older customers feel more comfortable dealing with mature staff who are likely to understand their situation better.
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