In _____, the hr manager attempts to determine the supply of and demand for various types of human resources to predict areas within the organization where there will be labor shortages or surpluses.

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12-09-2022
Business

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In _____, the hr manager attempts to determine the supply of and demand for various types of human resources to predict areas within the organization where there will be labor shortages or surpluses.

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devikabalrajan devikabalrajan · Answer 1 · 2022-09-17T15:57:44+02:00

In forecasting the HR manager attempts to determine the supply of and demand for various types of human resources to predict areas within the organization where there will be labor shortages or surpluses.

What is forecasting?

Small business owners does forecasting and it refers to the process of looking into the market trends, present and past data to predict the company's financial performance in future.

It also enables them to gauge the revenue that will be potentially earned in a particular period of time and then plan their expenses accordingly.

Businesses utilize forecasting to determine how to allocate their budgets or plan for anticipated expenses for an upcoming period of time.

To learn more about forecasting, refer

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