Term
| Name the (3) steps in the Human Resources Planning process |
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Definition
1. Forecasting future human resources needs (demand)
2. Forecasting availability of internal and external candidates (supply)
3. Implement human resources programs to balance supply and demand |
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Term
| Name some quantitative approaches to forecasting future human resources needs (demand) (4) |
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Definition
1. Trend analysis: the study of a firm's past employment levels over a period of years to predict future needs
2. Ratio analysis: A forecasting technique for determining future staff needs by using ratios between some casual factor and the number of employees needed
3. Scatter plot
4. Regression analysis: Using a mathematical formula to project future demands - used when there are several dependent/independent variables |
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Term
| Name some qualitative approaches to forecasting future human resources needs (demand) (2) |
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Definition
1. Nominal group technique: Involves a group of experts meeting face to face
a) each member independently writes down ideas
b) each member presents one idea
c) clarification is sought
d) each member ranks ideas independently
2. Delphi technique: Involving outside experts and organizational employees
a) problem is identified, each member submits solution
b) results are compiled
c) each group member is given a copy of the results
d) each individual uses feedback from other experts to fine tune their assessment |
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Term
| Name some methods of forecasting the supply of internal candidates (4) |
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Definition
1. Markov Analysis: Tracking the pattern of employee movements through various jobs and developing a transitional probability matrix
2. Skills inventories and management inventories
3. Replacement charts and replacement summaries
4. Succession planning: ensuring a suitable supply of successors for current and future senior or key jobs so that the careers of individuals can be effectively planned and managed |
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Term
| Name some methods of forecasting the supply of external candidates (4) |
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Definition
1. General economic conditions
2. National labour market conditions
3. Local labour market conditions
4. Occupational market conditions |
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Term
| Name some strategies used in dealing with labour surplus (8) |
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Definition
- Early retirement buyout programs
- Job sharing
- Work sharing
- Reduced workweek
- Layoff
- Supplemental unemployment benefits
- Severance package
- Termination |
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Term
| Name some strategies for dealing with labour shortage (6) |
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Definition
- Transfer
- Promotion
- Flextime
- Flex year
- Telecommuting
- Compressed workweek |
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