Question

What effect does low turnover have on the container store's ability to forecast human resources supply and match supply with demand?

Answer 1

The low turnover rate has on the Container Store's capacity to Forecast HR supply and match supply with request can be with their turnover rate being so low, they're ready to Forecast HR supply all the more precisely in light of the fact that they generally know what number of individuals they will have working For them. The number does not change exceptionally often

Answer 2

The low turnover rate at the container store helps it match its demand and supply of labor accurately.

Further Explanation:

Turnover rate: It refers to the number of employees leaving the company during a given time period. High turnover rate is expensive for an organization because departing employees are required to be replaced.

Low turnover: It refers to small number of employees are leaving the company during a given time period as compared to the employees that are employed or hired at the starting.

The low turnover means few people are leaving the company. The attrition rate is low so it will be easy for the company to match its demand and supply for the labor. The number of employees remains same almost during the entire time period. Only few people are required to be hired. This reduces the cost of hiring new employee and helps the organization to match its labor demand and supply.

Learn more:

1. Demand and type of goods

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2. Demand and supply of goods

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3. Elasticity of demand

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Answer details:

Grade: Middle School

Subject: Economics

Chapter: Demand and supply

Keywords: What effect does low turnover have on the container store's ability to forecast human resources supply and match supply with demand, demand and supply .