Discuss the below:
HR Forecast Plan
Develop a three-year HR forecast (prediction of the future) using the following assumptions:
• Labor supply/demand will become more rigorous (demand for workers will increase, but the labor pool will remain the same or shrink). Labor costs will increase.
• Demand for Motors and More products will continue to increase. Production defects will also continue to increase.
• Motors and More's workforce will become more diverse as the company hires more Hispanics, Kurds, and persons from alternative workforces.
• The president will start another company and hire someone to manage the daily operations of Motors and More while he takes on more of an overseeing role.
Motors and More will decide to develop an additional product to broaden its portfolio. There is no existing capacity for the product, nor do the existing production lines meet the manufacturing requirements for the new product.