Comparing labor supply and demand forecasts to identify future talent needs is called __________.
A) talent inventory
B) trend analysis
C) succession planning
D) gap analysis

Question

Quizplus · Accepted Answer

Gap analysis involves comparing the demand and supply of labor to identify any gaps in talent needs for the future. This helps organizations to plan recruitment strategies and training programs to bridge these gaps. Talent inventory involves assessing the current skills and abilities of existing employees, trend analysis involves analyzing past data to identify future patterns, and succession planning involves preparing for the replacement of key positions in the organization.

Comparing Labor Supply and Demand Forecasts to Identify Future Talent