BUHRM5912 Human Resource Management

‘The challenges to labour demand and supply posed by globalisation, and

environmental and demographic changes, means that organisations can no longer
assume that jobs will remain unchanged for long periods and that Human Resource
Planning only needs to focus on internal replacement charts and succession
planning. To remain relevant, HRP must focus on scenario planning which takes
account of the major external changes facing Australian businesses.’ Discuss.
Human resource is that part of management which is related with dealing the employees of an
organization. How employees are hired and how they are groomed and how they are retained over the
longer period of times and a time becomes they become a part of organization like a family. So the
company’s responsibility is to manage the employee and resources which is vested in the hands of HR
department of the company. The labour demand and supply never remains the constant. (Cliff Notes, n.d.)
So the labour demand and supply are to be matched by an organization as per economic conditions. When
we talk

Bibliography
Cliff Notes. (n.d.). Retrieved from Cliff Notes: https://www.cliffsnotes.com/study-
guides/economics/labor-market/labor-demand-and-supply-in-a-perfectly-competitive-market