[Section 1] Forecasting Labor Demand and Supply

1. What are three analyses for forecasting labor demand? What are the conditions under which the following analyses are effective?

	Analysis	Conditions for effectiveness
1
2
3

2. Which analysis might have been most helpful for forecasting labor demand during the last five years? Why do you think so?

Which analysis?
Why do you think so?

3. The following techniques are used for internal labor supply. Please provide an explanation of the following

Techniques	Explanation
Succession plan
Replacement chart
Markov analysis

4. Follow the website link for the labor statistics for Maryland (Line 22 of the HR study material) and answer the following questions.

Source	Question	Answer
LMiDashboard	Number of unemployment in MD as of December 2023
Unemployment rate in MD as of December 2023
Number of employment in MD as of December 2023
Monthly Labor Review - December 2023	Change in labor force in MD between November 2023 and December 2023
Change in the number of unemployed in MD between November 2023 and December 2023
Change in the unemployment rate in MD between November 2023 and December 2023
Change in labor force in Baltimore County between November 2023 and December 2023
Change in the number of unemployed in Baltimore County between November 2023 and December 2023
Change in the unemployment rate in Baltimore County between November 2023 and December 2023
Changes (seasonally adjusted) in the "management of companies and enterprises" jobs in MD between November 2023 and December 2023

[Section 2] Options for addressing labor surplus and shortage

1. Below, you may find options for addressing labor surplus. Some options are quick and fast solutions to reduce the workforce (as well as labor costs), while others are slow. Also, some options may result in the significant suffering of affected employees. How do you evaluate the degree of the speed and the suffering for each option?

Options	Speed (fast or slow)	Suffering (high, moderate, or low)
Downsizing
Pay reduction
Demotions
Transfers
Work sharing
Hiring freeze
Natural attrition
Early retirement
Retraining

2. Concerning the options that result in the significant suffering of affected employees, what should the management do to mitigate such a negative consequence of such options, minimize resistance, or avoid legal challenges?

1
2
3

3. Below, you may find options for addressing labor shortage. Some options are fast solutions to increase the workforce, while others are slow. Also, some options differ regarding a firm's ability to change the practice after labor shortage is no longer an issue. How do you evaluate the degree of the speed and the ability to change later?

Options	Speed (fast or slow)	Ability to change (high, moderate, or low)
Overtime
Temporary employees
Outsourcing
Retrained transfers
Turnover reduction
New external hires
Technological innovation

[Section 3] Recruitment

1. There are many factors influencing the effectiveness of recruitment: organizational culture, employment policies (employment-at-will or due process policy), realistic job preview, compensation and benefits, recruitment sources, and P-O fit. Based on your experience, which factor attracts you the most? Also, which factor is least attractive to you?

	Why do you think so?
Most attractive factor
Least attractive factor

2. Refer to the strategic recruitment section. What actions can management take to enhance the following elements for strategic recruitment?

Strategic recruitment	Managerial actions
Maximize application pool size
Ensure the quality of applicants
Increase selectivity in hiring (yield ratio, job acceptance rate, or selection ratio)