Business factors workforce supply

Assess factors that may affect workforce supply

It is not only an organisation’s internal circumstances that need to be taken into account when conducting workforce planning. Organisations also need to research and review current and predicted external labour supply data, demographic data and economic data. This will help organisations to forecast human resources supply. If you want to learn more about what it takes to run your own business sondering doing the  is part of the diploma of business course. The first step of starting your own business would be securing business investor, once you have that you can then move onto the marketing plan and then executing the plan in place. I aspect that you always have to consider is that without the business investor you can not start the busienss unless you have the cashflow yourself.

External data can be gathered from a number of sources, including:

Australian Bureau of Statistics (ABS)

The ABS can provide organisations with statistical information that will help them to make informed workforce planning decisions. They can provide statistics on a wide range of economic and social matters. Many of these statistics can be accessed free of charge through the ABS website, including statistics on Australia’s economy, environment, industry and population. Frequently updated economic statistics can be found on their Key National Indicators page. They can provide information relating to the nation, states and territories and local government areas.

 

Of particular interest to organisations involved in workforce planning is the ABS’s Labour Force statistics.

A sample of the kind of labour force information that is available to organisations has been provided; this sample provides information relating to October and November 2008.

November key figures:

  Oct 2008 Nov 2008 Oct 08 to Nov 08 Nov 07 to Nov 08
Trend
Employed persons (‘000) 10748.5 10756.8 8.2 1.6 %
Unemployed persons (‘000) 484.5 488.6 4.1 3.7 %
Unemployment rate (%) 4.3 4.3 0.0 pts 0.1 pts
Participation rate (%) 65.1 65.1 0.0 pts 0.0 pts
Seasonally Adjusted
Employed persons (‘000) 10765.6 10750.0 —15.6 1.5 %
Unemployed persons (‘000) 488.7 496.6 7.9 1.3 %
Unemployment rate (%) 4.3 4.4 0.1 pts 0.0 pts
Participation rate (%) 65.2 65.1 —0.2 pts —0.3 pts
Employed Persons

 

Unemployment rate

 

(ABS 2008)

If organisations cannot find the information they need amongst the ABS’s free to view statistics, they can request customised data on a fee-for-service basis. The customised service gives organisations in-depth access to all ABS statistics for the organisation’s demographic, social, health, environmental, international trade and economic information needs.

The ABS can:

  • provide tailored reports with tables, commentary, graphs and maps highlighting the characteristics organisations are interested in
  • produce customised demographic data for projections and planning purposes
  • provide the very latest data, historical data or long-time series
  • design surveys
  • assist with data analysis
  • train people to analyse data or conduct statistical analysis
  • train people to use statistics in decision-making

Information can also be gathered from the ABS’s publications, including:

Year Book Australiathis 30 chapter publication offers a comprehensive source of facts about Australia, including social and economic issues such as Australia’s economic position and Australia’s social conditions.

Australian Social Trendsthis annual publication provides a collection of articles and key indicators about current social issues and the latest trends in our constantly changing society. Articles cover themes such as population, education and training, work and economic resources.

 

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