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Flashcards in Chapter 5 - Human Resources Planning Deck (28)
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1
Q

“The process of forecasting future human resources requirements to ensure that the organization will have the required number of employees with the necessary skills to meet its strategic objectives.”

A

Human Resources Planning (HRP)

2
Q

Importance of HRP

A
  1. meet strategic goals and objectives
  2. achieve economies in hiring new workers
  3. make major market labour demands successfully
  4. anticipate and avoid shortages and surpluses of human resources
  5. control or reduce labour costs
3
Q

does not occur independently of the other departments within an organization (such as finance, marketing, research and development);
must align with the overall goals of the organization as well as both the long-term and short-term strategic plans set by the organization.

A

The Relationship between HRP and Strategic Planning

4
Q

The Importance of Environmental Scanning

A

External environmental factors monitored include:

  1. economic conditions
  2. market and competitive trends
  3. new or revised laws relating to HR
  4. social concerns (health care, childcare, educational priorities)
  5. technological changes
  6. demographic trends
5
Q

Steps in the HRP Process

A
  1. Forecasting the Availability of Candidates (Supply)
  2. Forecasting Future HR Needs (Demand)
  3. Planning and Implementing HR Programs to Balance Supply and Demand
6
Q

skills inventories and management inventories;
replacement charts and replacement summaries;
succession planning

A

Forecasting the Availability of Candidates (Supply)

7
Q

Summary of current employees’ education, experience, interests, and skills;
used to identify eligibility for transfer/promotion

A

Skills Inventories

8
Q

Summary of management employees qualifications, skills, interests, managerial responsibilities;
used to identify eligibility for transfer/promotion

A

Management Inventories

9
Q

Depiction of who will replace whom in the event of a job opening;
internal candidates age, present performance rating, and promotability status are listed

A

Replacement Charts

10
Q

Lists of likely replacements for each position;

indicates relative strengths/weaknesses, current position, performance, promotability, age, and experience

A

Replacement Summaries

11
Q

Ensuring supply of successors for key jobs so that careers can be effectively planned and managed;
includes:
*analysis of demand for managers and professionals
*audit and projection of likely future supply
*planning individual career paths, career counseling
*accelerated promotions
*planned strategic recruitment

A

Succession Planning

12
Q

A method of forecasting internal labour supply that involves tracking the pattern of employee movements through various jobs and developing a transitional probability matrix

A

Markov Analysis

13
Q

Market conditions assessed:

A
  1. General economic conditions
  2. Labour market conditions
  3. Occupational market conditions
14
Q

Interest rates, wage rates, inflation, unemployment rates

A

General Economic Conditions

15
Q

Demographics: education levels, age, gender, marital status

A

Labour Market Conditions

16
Q

Relevant occupations (as applicable): e.g. engineers, skilled labour, accountants, etc.

A

Occupational Market Conditions

17
Q

Predict future needs based on past employment levels

A

Trend Analysis

18
Q

Ratio of business activity and number of employees needed, e.g. sales revenue per salesperson

A

Ratio Analysis

19
Q

Used to determine whether two factors (business activity and staffing levels) are related

A

Scatter Plot

20
Q

Examines the statistical relationship between business activity and employees

A

Regression Analysis

21
Q

Involves a group of experts meeting face to face;

Steps include independent idea generation, clarification and open discussion, and private assessment

A

Nominal Group Technique

22
Q

Judgmental forecasting method involving outside experts as well as organizational employees;
ideas are exchanged without face-to-face interaction and feedback is used to fine-tune until consensus is reached

A

Delphi Technique

23
Q

A pictorial representation of all jobs within the organization, along with the number of current incumbents and future employment requirements (monthly or yearly) for each

A

Staffing Table

24
Q

The internal supply of employees exceeds the organization’s forecasted demand

A

Labour Surplus

25
Q

The internal supply of human resources cannot meet the organization’s needs

A

Labour Shortage

26
Q

Responding to a Labour Surplus

A
  1. hiring freeze/attrition
  2. early retirement buyout programs
  3. job sharing
    work sharing
  4. reduced workweek
  5. layoff
  6. termination
  7. leave of absence
27
Q

Considerations:

A
  1. survivor syndrome
  2. supplemental unemployment benefits
  3. severance package
  4. pay
  5. benefits
  6. golden parachute
  7. outplacement assistance
28
Q

Responding to a Labour Shortage

A

Internal solutions:

  1. transfer
  2. promotion
  3. employee retention

External solutions:
4. recruiting