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External factors in workforce planning include economic conditions, labor market trends, and demographic shifts, which can influence the availability of talent and skills in the market. Additionally, technological advancements may necessitate new skill sets, while changes in regulations or industry standards can impact hiring practices. Competitive dynamics within the industry can also affect workforce requirements and retention strategies. Lastly, social factors, such as employee expectations for work-life balance and diversity, must be considered to attract and retain top talent.

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