Question

Explain how the ABS Labour Force Survey can be used by an organisation to assist in workforce planning.

Answer 1

ABS Labour Force Survey:

The ABS Labour Force Survey is a survey that collects information about the labour force of residential Australian civil population of the age 15 or above on a monthly or quarterly basis. The survey provides key information regarding the labour market provided by ABS (Australian Bureau of Statistics).

The ABS Labour Force Survey assists an organization in workforce planning in the following ways:

1. Provides a comprehensive picture of the labour market in Australia to the organization.
2. The survey provides statistics about employed, unemployed and underemployed people. This can help an organization in deciding the number of new recruitants and set criteria for eligible candidates during recruitment and selection.
3. The survey gives an overview of key details such as workers' sex, where they live, and how many hours they work. This can aid the organization in knowing about the general labour market and the background of the labourers.
4. It includes trend estimates, original and seasonal adjustment estimates about labour headline market indicators that help the organization in strategic planning considering these indicators before planning about the labour force.
5. Helps in understanding the overall state of the labour market in Australia so that the organization can get a better picture about the behaviour of the labour force.
6. Gives details about the changing work patterns of the labour force so that the organization can plan accordingly to adjust with the changing patterns that keeps them ready for contingencies.
7. It ensures the availability of highly reliable information to the organization about Australia's labour market.