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HRIR 3021 EXAM 2
Questions and Verified
Answers
Question: What are the main purposes of workforce planning?
Ans: Workforce planning is essential to
strategic staffing because it identifies and
addresses future challenges to a firm's
ability to get the right talent in place at
the right time.
Question: Boeing case
Ans: 25% of employees are eligible for retirement, to replace these employees will
take 10-20 years
-issue with workforce planning
Question: 3 steps of the HR planning process
Ans: 1. forecasting
2. goal setting and strategic planning (reducing labor shortages and surpluses)
3. program implementation and evaluation
Question: forecasting
, Page | 2
Ans: 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
Question: How are forecasts done?
Ans: three quantitative tools: trend analysis, ratio analysis and regression analysis
Question: trend analysis
Ans: constructs and applies statistical models that predict labor demand for the
next year, these statistics are called leading indicators
-Statistical planning methods should be implemented when there is a stable pattern
within an industry
Question: ratio analysis
Ans: the process of determining the future demand for human resources by
calculating the ratio between a particular business variable and the number of
employees a company needs.
Question: regression analysis
Ans: multiple regression can convert several leading indicators into a single
prediction of labor needs
Question: Transitional Matrix
Ans: a 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
Question: Once a forecast for labor has been done, whats next?
HRIR 3021 EXAM 2
Questions and Verified
Answers
Question: What are the main purposes of workforce planning?
Ans: Workforce planning is essential to
strategic staffing because it identifies and
addresses future challenges to a firm's
ability to get the right talent in place at
the right time.
Question: Boeing case
Ans: 25% of employees are eligible for retirement, to replace these employees will
take 10-20 years
-issue with workforce planning
Question: 3 steps of the HR planning process
Ans: 1. forecasting
2. goal setting and strategic planning (reducing labor shortages and surpluses)
3. program implementation and evaluation
Question: forecasting
, Page | 2
Ans: 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
Question: How are forecasts done?
Ans: three quantitative tools: trend analysis, ratio analysis and regression analysis
Question: trend analysis
Ans: constructs and applies statistical models that predict labor demand for the
next year, these statistics are called leading indicators
-Statistical planning methods should be implemented when there is a stable pattern
within an industry
Question: ratio analysis
Ans: the process of determining the future demand for human resources by
calculating the ratio between a particular business variable and the number of
employees a company needs.
Question: regression analysis
Ans: multiple regression can convert several leading indicators into a single
prediction of labor needs
Question: Transitional Matrix
Ans: a 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
Question: Once a forecast for labor has been done, whats next?
