What are the Dimensions of Manpower Supply?
The dimensions of manpower supply are:
Stock and Flow: It can be defined as the analysis of the behaviour of individuals at a fixed point in time, and over period of time. A stock variable is the one which is quantified at one specific time, and represents a quantity existing at that point in time, which have been collected the past. A flow variable is measured over an interval of time. Therefore a flow would be measured per unit of time. Thus, a stock refers to the value of an asset at a balance date whereas a flow refers to the total value of transactions done during an accounting period.
Quantity and Quality: Quantitative dimension of manpower is dependent on the number of persons available with the specific qualifications/ skills, both employed as well as unemployed and the one which are seeking jobs are also considered. Qualitative dimension deals with the characteristics of manpower supply. These are considered at the specialization level where duration, quality of training and length of job related experience are considered.
Occupation and Education: Forecasting approach of the labor market by occupation and education concerns the use of the gap approach, and the substitution of education programs within occupations. The gap between supply and demand constitutes a useful and informative concept, which can be justifiably used as long as too little is known about the adjustment process in the labor market. Then the structure of the substitution process can be discussed which is mainly focused on substitution as a result of the initially expected gaps between supply and demand. When made a distinction between active substitutions which is a result of supply-demand mismatches as a result of education programme and passive substitution that is the outcome of spillover effects from supply-demand mismatches for other education programs. One can get into any profession but the most important thing to see is that if one can do it.
Macro and Micro: The manpower supply at macro level level consists of:
- The stock of manpower at that period of time.
- The additions that are made to the existing stock from new entrants or re-entrants.
- The Jess of manpower supply or the deficiency of manpower supply that can be because of death, people getting retired, migration taking place in the organization, mobility of the manpower, and people going away from labor force.
The manpower supply at micro level date consists of:
- The addition of manpower due to recruitment taking place in the organization.
- Owing to transfers in the organization, promotions taking place and redundancies in the institution are all manpower supply at micro level.