Strategic Staffing ( Phillips, Gully) Chapters 5-8 Questions and Answers Fully Solved
Workforce Planning - Answers the process of predicting an organization's future employment needs and
the availablity of current employees and external hires to meet those employment needs and execute
the organization's business strategy
Workforce Planning Process - Answers 1. Identify the business strategy
2. Articulate the firm's talent philosophy and strategic staffing decisions
3. Conduct a workforce analysis
4. Develop and implement action plans
5. Monitor, evaluate and revise the forcast and action plans
Forcasting Business Activity - Answers Locating reliable high quality information sources within and
outside of the organizationa to forecast business activity
Seasonal Forcast - Answers Business demands that are seasonal and predictable. The better an
organization can anticipate them, the better it will be able to have an appropriate workforce in place as
needed
Interest Rate Forecast - Answers Can project the likelihood that the organization will need or be able to
build new establishments and increase production in the near future. Higher interest rates discourage
capital investment banking making it expensive for organizations to borrow money, as well as makes it
more expensive for consummers to borrow money as well
Currency Exchange Rate Forecast - Answers Exchange rate forcasts are useful for forecasting business
activity
Other Factors - Answers An increase or decrease in consumer spending
An increase or decrease in the unemployment rate
An increase or decrease in the disposable income of consummers
Increase or decrease purchases of durable goods
Increase or decrease housing purchases '
Forcasting Labor Demand - Answers An organization's demand for labor depends on its forecasted
business activity and its business needs, which depend on its business strategy
Ratio Analysis - Answers Assumes that there is a relatively fixed ratio between the number of employees
needed and certain business metrics, needs consistent historical trends to calculate ratios
, Staffing Ratio - Answers Mathematical way of calculating the number of employees a firm needs to
produce certain levels of output
Scatter Plots - Answers Show graphically how two different variables are related
Trend Analysis - Answers Uses past employment patterns to predict future needs; rarely used by itself in
making labor demand forecasts
Judgemental Forcasting - Answers Relies on the experience and insights of people in the organization to
predict future needs
Top- Down - Answers Organizational leaders rely on their experience and knowledge of their industry
and company to make predictions about what future staffing levels will need to be
Bottom- Up - Answers Uses the imput of lower-level managers in estimating staffing requirements
Return on investment Analysis - Answers Estimate the return on investment from adding a new position
based on the costs and outcomes resulting from that new hire
Forcasting Labor Supply - Answers Combining current staffing levels with anticipated staffing gains and
losses results in an estimate of the supply of labor for the target postion at a certain point in the future
External Labor Market - Answers Consists of people who not currently work for a firm
Internal Labor Market - Answers Consists of the firm's current employees
Forcasting the Internal Labor Market - Answers Estimate the competency levels and number of
employees likely to be working for the company at the end of the forecasting period
Transition Analysis - Answers A quantitative technique used to analyze internal labor markets and
forecast internal labor supply
Internal labor market forecasting methods - Answers Judgement
Talent inventories - Answers Summarize each employee's skills competencies and qualifications
Replacement charts - Answers visually shows each of the possible successors for a job and summarizes
their present performance, promotion readiness and developments needs
Employee surveys - Answers to identify the potential for increased turnover in the future
Labor Supply chain management - Answers The basic foundation of any supply chain model is to have
the right product in the right volume in the right place at the right timem with the right quality
Forcasting the External Labor Market - Answers Organizations monitor the external labor market in two
ways
1. Through their own observations and experiences
Workforce Planning - Answers the process of predicting an organization's future employment needs and
the availablity of current employees and external hires to meet those employment needs and execute
the organization's business strategy
Workforce Planning Process - Answers 1. Identify the business strategy
2. Articulate the firm's talent philosophy and strategic staffing decisions
3. Conduct a workforce analysis
4. Develop and implement action plans
5. Monitor, evaluate and revise the forcast and action plans
Forcasting Business Activity - Answers Locating reliable high quality information sources within and
outside of the organizationa to forecast business activity
Seasonal Forcast - Answers Business demands that are seasonal and predictable. The better an
organization can anticipate them, the better it will be able to have an appropriate workforce in place as
needed
Interest Rate Forecast - Answers Can project the likelihood that the organization will need or be able to
build new establishments and increase production in the near future. Higher interest rates discourage
capital investment banking making it expensive for organizations to borrow money, as well as makes it
more expensive for consummers to borrow money as well
Currency Exchange Rate Forecast - Answers Exchange rate forcasts are useful for forecasting business
activity
Other Factors - Answers An increase or decrease in consumer spending
An increase or decrease in the unemployment rate
An increase or decrease in the disposable income of consummers
Increase or decrease purchases of durable goods
Increase or decrease housing purchases '
Forcasting Labor Demand - Answers An organization's demand for labor depends on its forecasted
business activity and its business needs, which depend on its business strategy
Ratio Analysis - Answers Assumes that there is a relatively fixed ratio between the number of employees
needed and certain business metrics, needs consistent historical trends to calculate ratios
, Staffing Ratio - Answers Mathematical way of calculating the number of employees a firm needs to
produce certain levels of output
Scatter Plots - Answers Show graphically how two different variables are related
Trend Analysis - Answers Uses past employment patterns to predict future needs; rarely used by itself in
making labor demand forecasts
Judgemental Forcasting - Answers Relies on the experience and insights of people in the organization to
predict future needs
Top- Down - Answers Organizational leaders rely on their experience and knowledge of their industry
and company to make predictions about what future staffing levels will need to be
Bottom- Up - Answers Uses the imput of lower-level managers in estimating staffing requirements
Return on investment Analysis - Answers Estimate the return on investment from adding a new position
based on the costs and outcomes resulting from that new hire
Forcasting Labor Supply - Answers Combining current staffing levels with anticipated staffing gains and
losses results in an estimate of the supply of labor for the target postion at a certain point in the future
External Labor Market - Answers Consists of people who not currently work for a firm
Internal Labor Market - Answers Consists of the firm's current employees
Forcasting the Internal Labor Market - Answers Estimate the competency levels and number of
employees likely to be working for the company at the end of the forecasting period
Transition Analysis - Answers A quantitative technique used to analyze internal labor markets and
forecast internal labor supply
Internal labor market forecasting methods - Answers Judgement
Talent inventories - Answers Summarize each employee's skills competencies and qualifications
Replacement charts - Answers visually shows each of the possible successors for a job and summarizes
their present performance, promotion readiness and developments needs
Employee surveys - Answers to identify the potential for increased turnover in the future
Labor Supply chain management - Answers The basic foundation of any supply chain model is to have
the right product in the right volume in the right place at the right timem with the right quality
Forcasting the External Labor Market - Answers Organizations monitor the external labor market in two
ways
1. Through their own observations and experiences
