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Question: Discuss about the factors associated with the labor demand and supply in the context of Australia Post. Answer: Introduction Workforce and employee development are the major two parts of any business as the entire success of a business depend on it. In Australia improvement in labor market condition took place between the year 2015 to 2016 (Jobs.gov.au, 2018). During this year a strong growth in employment has been noticed in Australian labor market. This growth is due to the enhancement of part-time employment in Australian labor market. From June 2015 the unemployment rate in Australian began decreasing, which highlights the development on labor market. However, before 2015 there was a huge issue in Australian labor market as the unemployment rate was high. Official unemployment became increased by 6.4%. This condition was improved from June 2015. This study deals with the factors affecting labor supply and labor demand in the context of Australia Post. Factors affecting labor Demand Introduction of internet and information technology leaves a big impact on Australian labor market. As per the annual report of Australia Post it has been received that during the economic recession in the year 2009 customers switched to the cheaper process for their communication. This highlights the rapid use of mail as a media of communication. In the recent years, the Australian economy has been developing as a result, significant shifts from letters to email, SMS and internet communication has been noticed (Roberts Ottens, 2005). It was a big challenge for Australia Post to cope up with the changing economy and technology as various factors are associated with labor demand. One of the major factors is price of the firm's output (Ehrenberg Smith, 2016). Price of the firm's output affects the demand for a labor. Increase in the price of firms output also enhances the labor demand for an organization. In the context of Australia Post if their product price will increase then it w ill enhance the labor demand in this organization. Technology is another big factor that influences labor demand in an organization. However, an introduction of new technology often decreases the demand for some specific types of labor and increases the demand for other types of labor. Australia Post has faced the effect of emerging technology, which replaced the use of letter by email (Auspost.com.au, 2018). Introduction of the technology reduces the manual handling and increases the use of technology. As a result, many employees who have no technical knowledge are replaced by technical experts in Australia Post. This ensures that due to changing technology the demand for technical staffs become increased in Australian business industry. Changes in the product demand is a vital factor that affects the labor demand in an organization. However, if the demand for a product increases then the price of this product becomes increased. As a result, the workforces, which are associated with the manufacturing or delivering the product, become increased. Hence, the demand for the labor of this particular product is increased (De Bruecker et al., 2015). In the context of Australia Post, customers prefer to communicate via email and SMA rather than the letter. This leads this organization to hire more technical experts to enhance the communication process via modern technology. E-substitution is the new product of Australia Post, which needs more technical experts for its delivery. Market price and economic condition of a country is another crucial factor of labor demand. However, if the cost of labor force is high then the organizations try to cut the cost by reducing the workforce in an organization. On the other hand, if the economic condition of an organization is not good then labor demand becomes decreased as the organizations are not able to hire more employees (Ehrenberg Smith, 2016). In the context of Australia Post, labor demand in this organization began increasing from 2015 due to the high GDP of Australia. However, due to the high growth in business industry, Australia Post has started to recruit more labor to fulfill the current market demand. Factors affecting labor Supply Various factors are associated with the labor supply in Australia. One of the biggest factors is the government policy. It is important for an organization to follow the government policy to enhance the labor supply (Ehrenberg Smith, 2016). In the context of Australia Post, they need to follow The Fair Work Act 2009 policy get a good labor supply in their organization. According to this Act, Australia Post needs to give their concern towards the pay, working condition, and awards process to enhance their labor supply. However, it is crucial for Australia Post to fulfill all these aspects, which leads them to get a good supply of labor. Macroeconomic condition of a country also affects the supply of a labor. In Australia during the economic recession, the disposable income for consumers had been decreased as a result, buyers focused on the cheaper product and service (Farber, 2015). In the year 2009, due to the economic recession, Australia Post had faced decreased labor demand in th eir organization. Globalization is another factor that influences labor supply in an organization. However, globalization enhances the digital connectivity and makes the world more competitive (Blundell et al., 2016). In the recent years due to the introduction of new e-commerce giant, the volume of global parcel becomes increased. As a result, Australia Post is trying to adopt a clear strategy to grow their parcel business and optimize the core email operation process. In order to carry out this process, labor demand becomes increased as this organization as a high demand to recruit more technical experts to cope up with the emerging technology. Compensation is a big factor in labor supply (Keane Rogerson, 2015). However, in the year 2009, Australia had faced high economic recession which led the organizations to negotiate with the compensation of labor. This resisted Australia Postal to hire skilled employees to utilize the emerging technology during this time, as a result, the labor demand was dec reased. On the other hand, from the year 2015, the economic condition was starting to improve in Australia. This leads Australia Post to hire more skilled employee by giving them good compensation. This increased the labor supply in this country. Apart from this huge competition in the global market also increased the labor supply in Australia. Different types of workforce changes and their impact on existing and future job Among the different types of workforce changes one of the major changes is the entry of baby boomers in the business industry. However, this is an old generation and has much knowledge and patience to handle a work (Omrani, Valipour Emrouznejad, 2018). On the other hand, entry of the women in the business industry is another type of workforce change. Therefore, increasing rate of immigration is another type of workplace development that is seen in the recent years. Apart from this entry of young aged people as well as children is a crucial type of workforce change that can be observed in the recent years. Baby boomers or millennial are effective to enhance the existing and future job roles. However, mentoring role of boomers helps them to transfer their skill and knowledge to the younger colleagues. This will enhance the job role at present and future (Sherehiy Karwowski, 2014). On the other hand, women workers and child workers are low paid. In the recent years, the women have goo d skill and they are capable enough to complete a job. However, many organizations pay low to the women, which may decrease their labor forces and skill. On the other hand, emerging immigration in Australia allows the organizations to recruit more skilled employees in their organization. Therefore, the pay scale of immigrants is low in comparison to other employees. This will boost the existing job in Australia Post. Therefore, recruitment of more immigrants also valuable for the future job in this organization as it will increase the supply of skilled labor. Types of data and information that Australia Post needs to have access to ensure that the labor demand and supply are accurately understood Australia Post needs to review the GDP of Australia as based on which they can understand the flow of labor supply and rate of the labor demand. It is important for an organization to follow the strategic human resource management to understand the demand and supply of workforces (Nankervis, Compton Baird, 2008). In Australia the GDP was $251,716 million in the year 2017, which ensures the high GDP of this country. Therefore, Australia has ranked 11th position among the 49 countries those have high GDP. On the other hand, GNP or gross national income in Australia was 194383.36 AUD million in the year 2017. From this data, Australia Post can ensure that the unemployment rate is low in this country and labor demand is high. High rate of GNP highlights increased labor demand and supply (Khosla et al., 2011).NNP or net national product NNP of Australia was 432308 aud million, which is high. Introduction of NPP is a new payment structure of Australian economy (Stone, 2010). This will giv e a platform to Australia Post to carry out fast and data-rich payments while managing stakeholders. This enables this organization to transfer money to their customers quickly. To implement this process such organization needs more technical workforce. Hence, by using the above information Australia Post will be able to understand the demand and supply of labor in this country Conclusion The piece of work highlights different factors that are associated with labor demand and supply in Australia. However, it has been found that technology, economic factor, product demand and government policies have a great role in influencing the labor demand. On the other hand, globalization and compensation have a great impact on labor supply and demand. However, due to economic recession, Australia Post failed to negotiate with the compensation planning of the employees, which decreased the labor demand. On the other hand, high GDP will help this organization to provide good compensation as a result, labor demand increases. On the other hand, calculation of GDP, NNP, and GNP are vital for Australia Post to understand the rate of labor supply and demand References Auspost.com.au. (2018). Australia Post. Retrieved 31 March 2018, from https://auspost.com.au/ Blundell, R., Costa Dias, M., Meghir, C., Shaw, J. (2016). Female labor supply, human capital, and welfare reform. Econometrica, 84(5), 1705-1753. Carbery, R., Cross, C. (2015). Human Resource Development: A Concise Introduction. Palgrave. De Bruecker, P., Van den Bergh, J., Belin, J., Demeulemeester, E. (2015). Workforce planning incorporating skills: State of the art. 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