Matching Supply with Demand . Once they have forecasts of both the demand for personnel and the firm's supply of personnel, planners can devise a course of action for matching the two. When demand is forecast to be greater than supply, plans must be made to recruit and select new employees. The timing of these actions depends on the types of positions to be filled. When supply is forecast to be greater than demand, the firm must take steps to reduce the size of its work force.
Several methods are available.
As a larger number of women, minorities, and immigrants are entering the U.S. work force, the workplace is growing more diverse. It is estimated that Hispanics and African Americans each will make up about 11 percent of the U.S. workforce by the year 2005. Women will represent approximately 48 percent of all persons entering the work force in the year 2005. Hispanics continue to be the fastest growing population in the United States. Cultural or workplace diversity refers to the differences among people in a work force resulting from race, ethnicity, and gender.