28 Analyse factors that are considered while reducing the workforce. [6]

[Sir Afzal Shad]

Q 28 Analyse factors that are considered while reducing the workforce. [6]

Possible Structure:
[KN] Since there are technological advancements, push business to upgrade to remain competitive.
[AN]
[AN+]

[KN] Outdated skill set of current employees, higher training costs (& less output) against hiring fresh minds.
[AN]
[AN+]

[Hadia Zia]

[KN] Since there are technological advancements, push business to upgrade to remain competitive.
[AN] This contributes to efficiency and automation hence making business durability of staying in the market sustainable.
[AN+] Thus this leads to a reduction in labor costs, hence enabling the business to make strategic investments etc that contribute to the firm's growth.

[KN] Outdated skill set of current employees, higher training costs (& less output) against hiring fresh minds.
[AN] So by recruiting creative heads this will open the gate of innovative ideas, hence fostering the culture of continuous improvement and adaptability.
[AN+] As a result of this change, a more richer and dynamic work environment will be produced.

[Mahnoor Nadeem]

[KN] Since there are technological advancements, push business to upgrade to remain competitive.
[AN] Businesses with time would move towards capital intensive production process which are are much faster than human labor
[AN+] They might not require the large number of labor and are more expensive in the longer term

[KN] Outdated skill set of current employees, higher training costs (& less output) against hiring fresh minds.
[AN] If old employees are not making themselves used to the new advancements in technology then they might need to be replaced
[AN+] Need of new ideas will also be required which can be possible with a fresh young working force

[Mahnoor Nadeem]

[KN] Since there are technological advancements, push business to upgrade to remain competitive.
[AN] Businesses with time would move towards capital intensive production process which are are much faster than human labor
[AN+] They might not require the large number of labor and are more expensive in the longer term

[KN] Outdated skill set of current employees, higher training costs (& less output) against hiring fresh minds.
[AN] If old employees are not making themselves used to the new advancements in technology then they might need to be replaced
[AN+] Need of new ideas will also be required which can be possible with a fresh young working force

[Syed Raza]

[KN] Since there are technological advancements, push business to upgrade to remain competitive.
[AN] Adopting new technologies can improve customer service, provide personalized experiences, and facilitate seamless interactions.
[AN+] Technology can empower employees with new tools and capabilities, enhancing their skills and knowledge.

[KN] Outdated skill set of current employees, higher training costs (& less output) against hiring fresh minds.
[AN] New hires with the right skills can quickly contribute to the company's productivity, while retrained employees may take time to reach their full potential.
[AN+] Hiring new hires reduces the strain on internal training resources, allowing the company to focus on strategic initiatives.

[Farzan Siddiqui]

[KN] Since there are technological advancements, push business to upgrade to remain competitive.
[AN] This means that new technologies can improve production process.
[AN+] This would lead towards higher productivity.

[KN] Outdated skill set of current employees, higher training costs (& less output) against hiring fresh minds.
[AN] Hiring workers with the right skills can help to increase company's productivity.
[AN+] This leads toward improving the brand image.

[khuram khan]

[KN] Strategic Objectives
{AN} Workforce reduction should align with the organization's strategic goals and objectives, ensuring that the changes support the long-term vision and competitiveness of the business.
{AN+} If the reduction is not aligned with strategic objectives, it may lead to a misalignment of skills and resources, hindering the company's ability to achieve its goals.

{KN} Employee Performance and Skills
{AN} Assessing individual and team performance helps identify areas where workforce reduction can be most effective. It ensures that the retained employees are the best fit for the remaining roles.
{AN+} A lack of careful assessment may lead to the loss of valuable skills and knowledge, affecting the organization's ability to adapt to changing market conditions

[khadija nasir]

[KN] Since there are technological advancements, push business to upgrade to remain competitive.
[AN] in order for the business to stay competitive in the market
[AN+] adapting to market trends in order to gain/retain customers

[KN] Outdated skill set of current employees, higher training costs (& less output) against hiring fresh minds.
[AN] employees may not be able to adapt to changes
[AN+] increased costs of training leading to a reduction in workforce

[Hussain Asghar]

[KN] Since there are technological advancements, push business to upgrade to remain competitive.
[AN]as most of the businesses are capital intensive because machinery can produce more than a person produce
[AN+] so in order to lower labour cost business opt for advanced production processed as its a long term investment

[KN] Outdated skill set of current employees, higher training costs (& less output) against hiring fresh minds.
[AN] they dismissed them and hire the youngsters who are mentally and physically more active then the old ones
[AN+] as the new one is more efficient they need less employees as they can handle the work load

[Ibrahim Aamir]

[KN] Since there are technological advancements, push business to upgrade to remain competitive.
[AN] This could be done by moving to a capital-intensive business
[AN+] This would help the business achieve a lower cost of production as the machinery is cheaper then labour

[KN] Outdated skill set of current employees, higher training costs (& less output) against hiring fresh minds.
[AN] when the employee has been recruited a long time before and it works on the old methods
[AN+] which would make the business less competitive