SHRM CP TOP Questions and Correct Answers 2024

Career Planning - Actions & activities that individuals perform in order to give direction to their work lives. Brain drain - Exit of educated & skilled citizens from emerging & developing countries for better paying jobs in developed countries. Auditory learners - People who learn best by relying on their sense of hearing. Andragogy - Study of how adults learn. Cost-of-living adjustment (COLA) - Pay adjustment given to eligible employees regardless of performance or organizational profitability; usually linked to inflation. Compa-ratio - Pay rate divided by the midpoint of the pay range. Broadbanding - Combining several salary grades or job classifications with narrow pay ranges unto one brand with a wider salary spread. Behavioral interview - Type of interview that focuses on how applicants previously handled real situations. Applicant tracking software (ATS) - Software that provides an automated way for organizations to manage the recruiting process. Developmental activities - Activities that focus on preparing employees for future responsibilities while increasing their capacity to perform their current jobs. Compensation - All financial returns (beyond any benefits payments or services), including salary and allowances. Career development - Process by which employees progress through a series of stages in their careers, each of which is characterized by relatively unique, themes, and tasks. Benefits - Payments or services provided to employees to cover issues such as retirement, health care, sick pay/disability schemes, life insurance, and paid time off. Apprenticeship - Related to technical skills training; often a partnership between employers and unions. Competency-based interview - Type of interview in which the interviewer asks questions related to competencies for the position and asks candidates to provide examples of times they demonstrated the competencies. ADDIE model - 5 step instructional design process that governs the development of learning programs. Assessment centers - Assessment tools that provide candidates a wide range of leadership situations and problem-solving exercises. Blended learning - Planned approach to learning that included a combination of instructor-led training, self-directed study, and /or on-the-job training. Career management - Preparing, implementing, and monitoring employees' career paths, with a primary focus on the goals and needs of the organization. Competencies - Clusters of highly interrelated attributes, including knowledge, skills, or abilities (KSA) that give rise to the behaviors needed to perform a given job effectively. Strategy - A plan of action for accomplishing an organization's long-range goals. SWOT analysis - Process for assessing an organization's strategic capabilities in comparison to threats and opportunities identified during environmental scanning. Value drivers - Actions, processes, or results that are needed to deliver a desired value. Vision statement - Vivid, guiding image of an organization's desired future, the future it hopes to attain through its strategy. Organizational values - Beliefs that are important to an organization and often dictate employee behavior. Strategic fit - A state in which an organization's strategy is consistent with its external opportunities and circumstances and its internal structure, resources, and capabilities. Strategic management - The actions that leaders take to move their organizations toward those goals and create value for all stakeholders. Strategic planning - The process of setting goals and designing a path toward a competitive position. Metrics - Performance parameters based on the relationship between 2 or more measures. Mission statement - Statement that specifies what activities an organization intends to pursue and what course management has carted for the future; a concise statement of its strategy. Net profit margin - Ratio of net income (gross sales minus expenses and taxes) to net sales. Organizational culture - The basic beliefs and customs shared by members of an organization that contribute to an organization's sense of its identity