MAN6635 Exam 3 Questions and Answers
with Verified Solutions | Latest Updated 2026
HR Planning how much labor we have, how much we
will need,
and how we can bring these into alignment
3 forecasting methods benchmarking: seeing what other people
are doing
statistical methods: look at leading
indicators (i.e.,
sales this year correlating with labor
demand next
year)
subject matter experts (educated guess):
taking
into account other factors like product
launches,
competitive change, etc
transactional matrix
Surplus vs Shortages Comparing the results of demand and
supply
forecasting tells us whether we're likely to
have
surplus or shortages Depending on which
we
forecast, we plan to implement various
strategies
for creating equilibrium
, Methods for correcting surplus Downsizing
Reduce pay
Demotions
Transfers
Early retirement
Natural attrition
Hiring freeze
Methods for correcting shortages Existing people work harder (not practical
and
unfair)
Use temporary employees
Outsource
Promote within
Decrease voluntary turnover
Recruit new employees
workforce an enterprises employees
labor force pool of potential employees form which the
firm
hires
with Verified Solutions | Latest Updated 2026
HR Planning how much labor we have, how much we
will need,
and how we can bring these into alignment
3 forecasting methods benchmarking: seeing what other people
are doing
statistical methods: look at leading
indicators (i.e.,
sales this year correlating with labor
demand next
year)
subject matter experts (educated guess):
taking
into account other factors like product
launches,
competitive change, etc
transactional matrix
Surplus vs Shortages Comparing the results of demand and
supply
forecasting tells us whether we're likely to
have
surplus or shortages Depending on which
we
forecast, we plan to implement various
strategies
for creating equilibrium
, Methods for correcting surplus Downsizing
Reduce pay
Demotions
Transfers
Early retirement
Natural attrition
Hiring freeze
Methods for correcting shortages Existing people work harder (not practical
and
unfair)
Use temporary employees
Outsource
Promote within
Decrease voluntary turnover
Recruit new employees
workforce an enterprises employees
labor force pool of potential employees form which the
firm
hires
