BSBHRM513 Task 14: Staff turnover, demographics and workforce retention

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BSBHRM513
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BSBHRM513
Contents
Introduction..........................................................................................................................4
Task 1...................................................................................................................................4
1.1 Current data on staff turnover and demographics.................................................4
1.2 Factors that may affect workforce supply.................................................................4
1.3 Organization’s requirements for a skilled and diverse workforce.............................5
Task 2...................................................................................................................................5
2.1 Organizational strategy retention of the workforce...................................................5
2.2 Strategies to address unacceptable staff turnover......................................................6
2.3 Define objectives to retain required skilled labor......................................................6
2.4 Objectives for workforce diversity and cross-cultural management.........................7
2.5 Strategies to source skilled labor...............................................................................7
2.6 Objectives and rationale for stakeholders..................................................................7
2.7 Obtain agreement and endorsement for objectives and establish targets..................8
2.8 Contingency plan for extreme situations...................................................................8
Task 3...................................................................................................................................8
3.1 Action to support agreed objectives..........................................................................8
3.2 Strategies to assist workforce to deal with organizational change............................9
3.3 Strategies to assist organization’s workforce diversity goals....................................9
3.4 Succession planning.................................................................................................10
3.5 Employer of choice..................................................................................................10
Task 4.................................................................................................................................10
4.1 Workforce plan........................................................................................................10
4.2 Labor supply trends.................................................................................................11
4.3 Effects of labor trends on demand for labor............................................................11
4.4 Organizational climate.............................................................................................11
4.5 Internal and external................................................................................................11
4.6 Government policy on labor demand and supply....................................................12
4.7 Effectiveness of change processes...........................................................................12
Conclusion.........................................................................................................................12
References..........................................................................................................................13

BSBHRM513
Introduction
“The right people, the best company.” This assignment relates to the study of how a
company can manage its people in such a way that it proficiently fosters the growth and
status of the organization as well as the economy. Workforce planning has been
considered as the key to the development and building a prosperous future for the entity.
In core sense, workforce planning is the process of identifying and analyzing the
requirements of the business in terms of experience, capability, knowledge and quality of
the employees. The below summarized report has been focused on the management and
workforce planning for Wesfarmers.
Task 1
Current data on staff turnover and demographics
Staffing relates to putting right people at the right job, in other words, it is confined to
having the best person for the best suitable position in the organization.
For consistency in such operations, the company makes some suitable strategies which
are as follows-
• Strategic plans
This consists of the all the strategies which are to be used while managing the workforce.
• Operational Plans
Every company has its operations for which it makes plans about how to bring the action
in the organization (Starkey, 2018).
• Plans and Workforce planning
How many people are required, who will be assigned what etc. are under this section.
• Job characteristics
Job descriptions and other responsibilities have to be identified under this section.
• The Australian Bureau of Statistics
The government authorized agency which assesses data on the basis of samples so as to
reach a conclusion.
• The Economy
Definitely, if a business is operating under an economy it will contribute to it in direct
and indirect ways.

BSBHRM513
1.2 Factors that may affect workforce supply
• Employment forecasting
This is a process of forecasting the rate of employment which a company would require
in future. This factor directly affects the workforce supply as we cannot accurately assess
the future and its requirements. The requirements may vary from time to time. Hence,
workforce supply is hindered.
• Supply and demand
Sometimes the supply and demand curve does not compliment each other which create a
problem for the company in getting the required amount of workforce for the operations
of the organization.
1.3 Organization’s requirements for a skilled and diverse workforce
A leading organization like Wesfarmers needs to compete with its rivalry for which it is
necessary for it to have best people appointed at the operations. The requirements of a
company are defined by its work ad structure it posses. Eventually, it leads to many more
upcoming challenges for which people are required in order to fulfill the goals. Hence,
Wesfarmers require a completely skilled and diverse workforce as it has very extended
operations which are also worldwide where expatriates are also needed. The working
structure of a company is very large so it needs to have highly skilled, semi-skilled, as
well as labor as well depending upon the work which it is assigning to people according
to their skills.
Task 2
2.1 Organizational strategy retention of the workforce
Retaining workforce is a task in a 21st century where there is the ample number of
competition. To be at a stage where there are a lot of options available to choose from is a
task. For which there are certain criteria where Wesfarmers has to lead and they are as
follows:
• Specific objectives for the organization on recruitment