Final answer:
Retrained transfers and outsourcing are recommended as sustainable strategies for OST Corporation to address an expected labor shortage, with the former focusing on upskilling current employees and the latter contracting tasks out to external companies.
Therefore, the correct options are: C). retrained transfers and E). outsourcing.
Step-by-step explanation:
Management at OST Corporation is looking for a strategy to address an expected labor shortage that can be implemented and sustained. The given options are new external hires, temporary employees, retrained transfers, overtime, and outsourcing.
Considering the need for sustainability and the potential temporary nature of a recession, the most viable option is retrained transfers. This method involves re-skilling and upskilling current employees to fill the gaps, ensuring internal knowledge is retained, and avoiding the costs associated with hiring new staff or losing employees to other companies.
Additionally, outsourcing could offer a longer-term solution by contracting another company to perform tasks, potentially reducing costs and allowing the company to adjust more flexibly to market demands. Overtime can be a stop-gap but might not be sustainable.
Temporary employees and new hires involve costs and risks associated with turnover and training. Therefore, retrained transfers and strategic outsourcing are the recommended methods for OST Corporation to sustainably address the expected labor shortage.