HRIR EXAM 2 (2024 Questions &
answers 100% Correct!)
What are the main purposes of workforce planning? - ANSWERS1) Identifies workforce
requirements needed for strategic plan
2) discovers where/if competency gaps exist
3) plans for internal and external factors
4) implementsworkforce shortage and reduction strategies
Forecasting - ANSWERSthe attempts to determine the supply of and demand for
various types of human resources to predict areas within the organization where there
will be labor shortages or surpluses
trend analysis - ANSWERSconstructing and applying statistical models that predict
labor demand for the next year, given relatively objective statistics from the previous
year
ratio analysis - ANSWERSthe assessment of a firm's financial condition using
calculations and interpretations of financial ratios developed from the firm's financial
statements
regression analysis - ANSWERSAn analytic technique where a series of input variables
are examined in relation to their corresponding output results in order to develop a
mathematical or statistical relationship.
Statistically identify historical predicts of workforce size.
Transitional Matrix - ANSWERSa chart that lists job categories held in one period and
shows the proportion of employees in each of those job categories in a future period
How do internal and external considerations affect workforce planning? -
ANSWERSExternal:
Labor Market:
affected by unemployment rates, number of qualified workers in the reasonable
commuting distance and, in some cases, the availability of applicants with specialized
skills such as nursing or technology.
Geographic:
, The company's geographic location may also be a factor if the labor pool is not large
enough in the immediate area. Then, HR managers may need to focus their recruiting
efforts outside the region and pay relocation packages as appropriate to encourage
qualified staff to take up a position
along with Economy, Competitors, Threat of Substitution, Legislation, Labor Market,
Globalization, Technology, Suppliers, Customer Demands, Geography, Societal change
**Government Regulations**
Regulations can influence how a company goes about hiring, training, compensating
and even disciplining its workers, and a misstep could result in sanctions against the
company or even lawsuits filed by employees, prospective employees, vendors and
customers
Internal
Internal Factor: Level of Growth
the company's rate of current and projected growth. Companies experiencing
aggressive growth and rapid expansion may require its human resources department to
focus on recruitment and staffing.
Internal Factor: Use of Technology
the willingness for the HR department and company management to use technology to
aid in certain key human resources functions. For example, employees can make
changes to their benefit plans on their own, provide human resources workers with
more time to focus on other areas like recruiting or training.
Describe ways that we can eliminate a labor surplus - ANSWERS1) Downsizing
2) Work Sharing
Describe ways that we can avoid a labor shortage - ANSWERS1: Overtime
2: Outsourcing
3: Temp Employees
Downsizing - ANSWERSA planned reduction in the number of employees needed in a
firm in order to reduce costs and make the business more efficient
Outsourcing - ANSWERSHiring workers in other countries to do a set of jobs
What are the four main objectives for downsizing? - ANSWERS1. reducing costs
2. replacing labor with technology
3. mergers and acquisitions
4. moving to more economical locations
What are the consequences of downsizing as described in the text? - ANSWERS-hurts
long term organizational effectiveness
answers 100% Correct!)
What are the main purposes of workforce planning? - ANSWERS1) Identifies workforce
requirements needed for strategic plan
2) discovers where/if competency gaps exist
3) plans for internal and external factors
4) implementsworkforce shortage and reduction strategies
Forecasting - ANSWERSthe attempts to determine the supply of and demand for
various types of human resources to predict areas within the organization where there
will be labor shortages or surpluses
trend analysis - ANSWERSconstructing and applying statistical models that predict
labor demand for the next year, given relatively objective statistics from the previous
year
ratio analysis - ANSWERSthe assessment of a firm's financial condition using
calculations and interpretations of financial ratios developed from the firm's financial
statements
regression analysis - ANSWERSAn analytic technique where a series of input variables
are examined in relation to their corresponding output results in order to develop a
mathematical or statistical relationship.
Statistically identify historical predicts of workforce size.
Transitional Matrix - ANSWERSa chart that lists job categories held in one period and
shows the proportion of employees in each of those job categories in a future period
How do internal and external considerations affect workforce planning? -
ANSWERSExternal:
Labor Market:
affected by unemployment rates, number of qualified workers in the reasonable
commuting distance and, in some cases, the availability of applicants with specialized
skills such as nursing or technology.
Geographic:
, The company's geographic location may also be a factor if the labor pool is not large
enough in the immediate area. Then, HR managers may need to focus their recruiting
efforts outside the region and pay relocation packages as appropriate to encourage
qualified staff to take up a position
along with Economy, Competitors, Threat of Substitution, Legislation, Labor Market,
Globalization, Technology, Suppliers, Customer Demands, Geography, Societal change
**Government Regulations**
Regulations can influence how a company goes about hiring, training, compensating
and even disciplining its workers, and a misstep could result in sanctions against the
company or even lawsuits filed by employees, prospective employees, vendors and
customers
Internal
Internal Factor: Level of Growth
the company's rate of current and projected growth. Companies experiencing
aggressive growth and rapid expansion may require its human resources department to
focus on recruitment and staffing.
Internal Factor: Use of Technology
the willingness for the HR department and company management to use technology to
aid in certain key human resources functions. For example, employees can make
changes to their benefit plans on their own, provide human resources workers with
more time to focus on other areas like recruiting or training.
Describe ways that we can eliminate a labor surplus - ANSWERS1) Downsizing
2) Work Sharing
Describe ways that we can avoid a labor shortage - ANSWERS1: Overtime
2: Outsourcing
3: Temp Employees
Downsizing - ANSWERSA planned reduction in the number of employees needed in a
firm in order to reduce costs and make the business more efficient
Outsourcing - ANSWERSHiring workers in other countries to do a set of jobs
What are the four main objectives for downsizing? - ANSWERS1. reducing costs
2. replacing labor with technology
3. mergers and acquisitions
4. moving to more economical locations
What are the consequences of downsizing as described in the text? - ANSWERS-hurts
long term organizational effectiveness
