Workforce Planning: Labor Market Trends, Retention Strategies, and Future Skill Needs

Running head: WORKFORCE PLANNING
WORKFORCE PLANNING
Name of the Student
Name of the University
Author note

1WORKFORCE PLANNING
What labor market trends might make it hard for the company (in the case
study) to recruit and retain the staff they need? What developments might
change the situation?
The labor market trends that makes hard for the company to retain their staffs as well as
recruitment of the new staffs , the labor market trends involves the increased competition in the
recruitment of the employees, increased communications regarding the organization’s strategies
that is listening more to the employees (Deming 2017). This makes the PTP Soda Drinks to lack
in the recruitment process and they are unable to retain the staffs (Kalleberg 2018). The labor
market trends involves the unemployment that makes the company inefficient in retaining their
staffs.
The developments that are required for PTP Soda Drinks Company to undergo for the
implementation of the workforce planning are:
 The organizations need to focus on the developing of the new talents and the focus
need to retention of the employees than the recruitment of the employees. The soda
drinks company need to invest more time and efforts in development (Dube, Lester
and Reich 2016.).
 The organization need to increase the communication for the employees regarding the
organization’s strategy that is vital for the company for developing the proper
communication plan for keeping the employees more updated and aware of the
strategies, listening to more of the concerns.
 The recruitment and the talent management budget for the company should increase.

2WORKFORCE PLANNING
 The organization need to use the new media and the technology for the recruitment
and they need to place more focus on the employer brands, career development and
paying benefits of the organization.
 The organization need to increase the communications for recruiting the well
qualified talents, difficulties of the recruitment of the senior and the skilled
employees, and from the last survey it has been found out that the median cost of
hiring the senior managers and the directors have decreased. It has also been
recommended for the PTP Soda Drinks to hire the skilled and the senior manager for
training, developing and motivating the staffs of the company (Hyde 2015).
Explain the significance of ‘tight’ and ‘loose’ labour markets
Tight labor market signifies that there are more number of jobs as compared to the
availability of the skilled people for that jobs. In such a situation it becomes challenging to fill
the vast supply of vacancies with limited availability of the demand of the work force. On the
other hand, a loose market labor market signifies that there is abundance of labor but
organizations have limited vacancies to cater the demand of the workforce. In such a complex
situation, there are limited number jobs available which can create a crisis of unemployment.
Kuwait tend to experience a tight labor market which means there is ample jobs in technical and
management field yet there is not enough workforce to meet the demand of the organization
(Abbott 2014). Further, the lower level of job as in the junior staffs, Kuwait has a loose labor
force signifying that there is ample workforce yet for such posts there is not ample number of
vacancies to fill in the posts.

3WORKFORCE PLANNING
Recommend two differing approaches that could be taken in the short term as
a means of improving the organisation’s ability to retain staff effectively
The two measures that can be taken in short term as a means of improving organization’s
ability to retain staff are mentoring program which will help the employees to develop strong
relationship and act as a solid foundation to improve the performance of the employees.
Mentoring helps the employees to inculcate confidence in the short term which can be
complemented with a robust feedback mechanism where issues of the employees can be sorted in
the short term (Cloutier et al 2015). An organizational leader shall reinforce the motivation
among the employees and enhance teamwork among the various employees. The company
should incentivize the employees by rewarding them through weekly appraisal and boost their
confidence as appreciation can have a propelling effect on the employees to perform consistently
well (Deery and Jago 2015). The organization should value their employees by recognizing them
as a part of the organization through appreciation and encouragement. This not only have a
positive influence among the employees but also ensures that the employees make good use of
their skills when mentored in the right direction. Further, feedback will help them to understand
their shortcomings in short term as well as to add a sense of worth towards their tasks. It is also
equally important that the employees understand that they are valued and short term training will
ensure their competencies are upgraded which will ensure that the employees do not feel that
their job has brought a stagnancy in their career. A training program can give an instant boost to
their career in a very short period of time. This will help organization to retain staffs for a short
period and motivate them to remain committed to their work. The organization should ensure
that the employees are not stressing out due to their job and maintaining a work life balance
(Mowday 2013). The organization should also take an online survey to assess the opinion of the