Final answer:
To create a well-developed plan, one must research an organization's current and projected labor demands and supply, taking the productivity of labor into account. Employers prefer skilled workers, as increased productivity leads to a rise in labor demand, while less skilled workers see a decreased demand. This research includes interviews, field research, and analyses of career prospects and qualifications.
Step-by-step explanation:
To form a well-developed plan, comprehensive research on the organization's labor demands and supply is required. Understanding the dynamics of supply and demand for labor helps in forecasting future needs and shaping strategic goals. The supply of labor involves the number of workers seeking jobs, while demand refers to the number of jobs available and is often influenced by the productivity of labor. A well-developed plan incorporates not only interviews, field research, and secondary research but also a thorough evaluation of job prospects, salary ranges, and necessary qualifications prevalent in the labor market.
Results from research indicate that a workforce's training and education significantly impact its demand in the labor market. An increase in productivity shifts demand to the right, demonstrating employer preference for hiring a skilled workforce to avoid the additional costs associated with training. Conversely, demand shifts to the left for a workforce lacking requisite skills, indicating reduced employment opportunities within that labor pool.
Therefore, careful planning, supported by a range of research methods and a deep understanding of market demands, is instrumental for creating a robust strategy that aligns labor supply with employer needs in a competitive job market.