Question 1 :
Suppose you have excess supply of employee and shortage of employee than what you will do?
Answer : Strategies
for Managing Surpluses
:
•
1. Hiring freezes; If the company
have surplus employee then it can stop hiring new people. That is called hiring
freezes.
•
2. Do not replace those who leave; If
the company have a surplus employees then the company should let the people go
who wants to quit the job.
•
3. Offer early retirement incentives; If
the company have surplus employees then it can offer the employees early retirement
incentives. Such as after 25 years though he have 5 years left but he can take
retirement with a big amount of money.
•
4. Reduce work hours; If a company have
surplus employees they can reduce the work hours to reduce other expenses.
•
5. Voluntary severance leaves of absence;
if a company have surplus employees then they can consider leave of absence for
the employees
•
6. Across-the-board pay cuts; If the company have a surplus employees then have
pay cuts.
•
7. Layoffs; If a company have surplus
employees then they can terminet the employees.
•
8. Reduce outsourced work; if the
company have surplus employees then all they can do with their own employees stop
outsourcing.
•
9. Employee training; The company can
send employees for training.
•
10. Switch to variable pay plan; at the
time of surplus employees the company can switch to variable pay plans.
•
11. Expand operations; At the time of
surplus the company should expand their oparetions to use the total employees.
•
Strategies for Managing Shortages :
•
1. Recruit new permanent employees; if
shortage occorce then the company have to hire new employees.
•
2. Offer incentives to postpone
retirement; the company can give incentives so that the employees will retire
later.
•
3. Rehire retirees part-time; the
company can re-hire the ex employees part time
•
4. Attempt to reduce turnover.; the
company should take step so that the employees will not quit the job.
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