Chapter 8

Question 1

Order of Human Resource Planning

Answer 1

1. HRP
2. Recruiting
3. Selection

Question 2

Human Resource Planning Definition

Answer 2

a companies activity to estimate how many people are needed and what would be their skill sets “quality and quantity of people”

Question 3

Labor Demand

Answer 3

how many people will we need

Question 4

Labor Supply

Answer 4

how many people will we get

Question 5

Labor supply and labor demand becomes…

Answer 5

Labor surplus or shortage

Question 6

what is the first step in the human resource planning process?

Answer 6

forecasting labor demand and labor supply, predicting which areas are in need of people

Question 7

In the context of human resource planning, the primary goal of forecasting is to:
A. Predict labor shortage or surpluses in specific areas of an organization
B. Set goals for hiring employees
C. Focus attention on a problem and provide a basis for measuring an organization’s success
D. Eliminate large numbers of personnel with the goal of enhancing an organization’s competitiveness

Answer 7

A

Question 8

Forecasting Steps: Estimating Labor Demand
Internal Factors

Answer 8

-Business strategy, etc.
-Tool: Trend analysis

Question 9

Forecasting Steps: Estimating Labor Demand
External Factors

Answer 9

-Economic situation,
industry situation, labor market situation, customer demand, etc.
-Tool: Whatever that works

Question 10

What are internal factors?

Answer 10

Factors within the company

Question 11

Forecasting Steps: Determining Labor Supply
Internal and External supply

Answer 11

Transitional Matrix

Question 12

What are external factors?

Answer 12

factors outside the company

Question 13

What is trend analysis?

Answer 13

statistical models that predict future labor demand based on companies past data

Question 14

A manager at a company must predict future labor demand using information about inventory levels from the past three years. The manager will most likely use ____ to predict the demand.

Answer 14

Trend Analysis

Question 15

Transitional Matrix

Question 17

Ways to reduce expected surplus that’s fast with high suffering

Answer 17

downsizing, pay reductions

Question 18

Ways to reduce expected surplus that’s fast with moderate suffering

Answer 18

transfers, work sharing

Question 19

Ways to reduce expected surplus that’s slow with low suffering

Answer 19

hiring freeze, natural attrition, retaining, early retirement

Question 20

Ways to reduce an expected labor shortage that’s fast with high ability to change later

Answer 20

Overtime, Outsourcing, Temporary employees

Question 21

Ways to reduce an expected labor shortage that’s slow with high ability to change later

Answer 21

retrained transfers

Question 22

Ways to reduce an expected labor shortage that’s fast with moderate ability to change later

Answer 22

turnover reductions

Question 23

Ways to reduce an expected labor shortage that’s fast with low ability to change later

Answer 23

New external hires,
Technological innovation