Discuss the effects that an impending labor shortage might have on the following three sub-functions of human resource management: (a) selection and placement, (b) training and career development, and (c) compensation and benefits. which sub-function might be most heavily impacted, and in what ways might these groups develop joint, cooperative programs to avert a labor shortage?

Please see the details

Explanation:

The effects of impending labor shortage might effect

a) Selection and Management are getting tougher with lack of active candidates seeking for job or lack of skilled candidates attending the placement process. There is lack of required skills for the job role and hence this subsection needs to send job proposals to even passive job candidates at competitive prices and incentives to attract them towards the company.

b) Training and Career Development is facing reduced number of applicants and they need to put in a lot of effort in order to make the selected candidates learn the required skills suitable for the job. This department is facing a lot of issues as the time and cost invested in training is increasing with increasing labor shortage.

c) Compensation and Benefits is to be  prepared to pay more to attract and retain employees. Increased compensation is a fact of life in the early phase. By being prepared, managers can ensure that they are not the last to increase compensation and thus end up with the worst of the labor shortage. For example: it's either the worst candidates or no candidates at all.

 The ways that might develop joint, cooperative programs to avert a labor shortage is by :

a) Increasing the number of applicants

 - Influencing and expanding the gate keeping institution ( Schools

 and training's to expand the production of graduates)

b) Maintain the supply by reducing the flow of workers out of the firm

- Reducing absenteeism  

- Efforts to reduce voluntary quits by improving sources of  

dissatisfaction  

c) Reducing Labor demand and the overall need for a new workers

- Using contingent workers to meet peak demand,

True

Explanation:

Federal deficit means the spending of the government is more than the revenue collected by the government through taxes. When the taxes are cut down it increases the money flow in the market that in turn increases the economic activity. When the economic activity is slow in the country then the government spends more to stop the decline in the economic growth.

The deficits can be corrected when there is economic growth. When there are surplus in the budget then the debt of the country can be paid back.