Human Resource Planning and Development:
Human resource development is a concept that has existed even before the 1980s and has played an important role in the success, growth, and development of organizations. The emergence of this concept can be attributed to the establishment of apprenticeship programs in the 18th Century (Werner & DeSimone, 2011, p.5). The significance of human resource development in today’s business environment is attributed to its role in organizational profitability. Human resource planning involves the use of business activities to forecast how management strategy changes will impact human resource needs in the future. On the contrary, human resource development activities help an organization to ensure its workforce has necessary competencies or skills to meet the current and future job demands. In essence, human resource planning and development focuses on labor supply and demand in an organization.
McDonalds’ Labor Demand and Supply:
McDonalds Corporation is the leading fast food restaurant chain across the globe that serves tens of millions of customers on a daily basis. The corporation has fast food chains in more than 200 countries worldwide and customizes its food products to meet the demands of customers in these regions. This company has achieved tremendous success and profitability throughout its operations to an extent that it is regarded as the epitome of globalization. The ability of McDonalds to maintain its profitability is influenced by its excellent customer service and growth through various strategies including franchising and acquisitions.
The other significant aspect in McDonalds’ operations is the firm’s labor demand and supply. Since its inception, McDonalds Corporation has achieved huge profitability because of effective strategies in labor demand and supply. These strategies are established through effective human resource planning and development initiatives, which are carried out across every organizational level. In McDonalds, the main function of human resource planning and development is to examine labor supply and demand in the firm and align it with labor in the organization to maintain the level of productivity at an optimal point.
Factors or Issues Influencing Labor Demand at McDonalds:
Generally, human resource management is the responsibility of professionals in the human resource department. The primary role of this department is to ensure that McDonalds hires and retains competent employees who help in the realization of business objectives. One of the major ways that such kind of employees are recruited and maintained in the corporation is through constant analysis of the labor market. Actually, McDonalds has market analysts who keep informed with events in the labor market and labor demands in different restaurants. These analysts keep up-to-date records of labor supply and demand to ensure the company’s operations are not affected by shortages of labor from...