Article type: General Review
Authors: Pearson, Barrie
Date of Publication: 1980
Book title: Management Accounting
Place of Publication: London
Corporate planners need to be proactive and not reactive in their daily business. In this case every corporate planner wishing to actively run the business successfully must be ready to plan ahead for workforce growth. In most cases many areas do have a larger labor supply, but qualified labor is the key.
Labor usually is significant especially where one is planning for a growing facility the availability of quality workers is of great importance. Incentives and competitive wage rates offered to employees attracts quality workers.
The impact of labor should also be planned for especially if ones facility is a major player in its industry. This is of great importance as it keeps the facility top in the market and therefore continued yield of various returns.
Corporate planners also need to consider the educational institutions available to the area’s labor force. The company needs to scrutinize its needs so as to identify the kind of skills required from its employees. In this case, a company may need more trade school graduates or community college students with particular skills than it would need university level graduates.
Employers also need to pay attention to logistics as it relates to employees. This is where advancement of public transportation expands the area from which the employers can draw labor. Also, employers should take into consideration the government and business in the region that is whether the leaders are forward thinking or the labor laws are employer friendly.
It’s important to note that employee retention begins the first day the employee is hired. Therefore, word of mouth from one’s employees can draw the next group in without any extra push on the employer’s part. In this case, competitive wage rates and conducive working environments are of necessity for every employer to plan ahead for workforce growth.
In conclusion, every employer should aim at attracting quality workforce. This can be effected if the employer’s reputation grows quickly from the way one treats people. Such kind of positive workplace culture combined with a close relationship with local leaders and cooperative officials at educational facilities gives the confidence to know that the areas workforce will be ready to grow as ones company grows.