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1 point

Which of the following statements about HR demand forecasting is true?

A. HR demand forecast only involves forecasting a specific business's labor needs for some future time.

B. HR demand forecasting uses census figures to calculate labor supply and demand for a particular industry.

C. HR managers do not typically engage in HR demand forecasting because the forecasting process requires an expert in the field.

D. HR demand forecasting is an internal labor supply forecast.

Sagot :

GinnyAnsweridn

Final answer:

HR demand forecasting involves predicting labor needs, influenced by economic conditions. The state of the macroeconomy and the difference between firm and industry labor demand are key factors affecting workforce planning.


Explanation:

HR demand forecasting involves predicting the labor needs of a specific business for the future by considering various factors such as economic conditions, business expansion or recession, and past data. It is crucial for businesses to plan their operations efficiently to avoid excess capacity or unmet demand.

One important determinant of labor demand is the state of the macroeconomy, influencing how businesses perceive demand for their products. If the economy is expanding, firms tend to hire more labor, while during a recession, they hire less, impacting the labor demand curve.

The difference between firm and industry demand for labor lies in how the demands of individual firms contribute to the overall demand within an industry. Understanding this distinction helps in assessing the labor market and planning workforce strategies.


Learn more about HR demand forecasting here:

https://brainly.com/question/34919794


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