MHR 523 VERIFIED & ACCURATE STUDY GUIDE
Human Resource Planning - Answers - Process to ensure that an organization has
people available (employed) who have the right competencies and that these people
are being effectively utilized in the right capacities in order for the company to achieve
its desired objectives
Forecasting Labor Supply - Answers - considerations: changes to the external labour
force
techniques used: replacements charts and replacement summary
Forecasting Labor Demand - Answers - quantitative and qualitative techniques
Quantitative Techniques - Answers - - trend analysis
- ratio analysis
- scatterplots
- regression analysis
Qualitative Techniques - Answers - - nominal group technique
- delphi technique
gap analysis - Answers - comparing labor supply and demand forecasts to identify
future talent needs
Solution Analysis - Answers - Determine the next course of action to reach the point of a
labour equilibrium
Human resource planning helps: - Answers - - meet strategic goals & objectives
- achieve economies in hiring new workers
- make major market labour demands successfully
- anticipate and avoid shortages and surpluses of human resources
- control or reduce labour costs
Steps in HR Planning - Answers - step 1: Forecast demand for labour
step 2: determine supply of labour- external or internal
step 3: identify the gap between demand and supply
step 4: determine action plans to eliminate the gap
Steps in HR Planning - Answers - step 1: assess current employee levels (SAP and
PeopleSoft)
step 2: predict future needs
step 3: predict employee movement
, step 4: plan external hiring needs
Oversupply - Answers - attrition, leave of absence without pay, job sharing, reduced
hours
shortage - Answers - full-time part-time hiring, independent contractors, use of overtime,
retention strategies
trend analysis - Answers - The study of a firm's past employment levels over a period of
years to predict future needs
ratio analysis - Answers - A forecasting technique for determining future staff needs by
using ratios between, for example, sales volume and number of employees needed.
nominal group technique - Answers - involves a group of experts meeting face to face,
steps included independent idea generation, clarification and open discussion, and
private assessment
nominal group technique - Answers - you are the HR manager of a company and the
CEO has asked you to assist in bed for casting future HR needs. she would like to use a
technique amount directors and would leave greater results
Delphi Technique - Answers - A judgmental forecasting method used to arrive at a
group decision, typically involving outside experts as well as organizational employees.
Ideas are exchanged without face-to-face interaction and feedback is provided and
used to fine-tune independent judgments until a consensus is reached.
forecasting supply for internal candidates - Answers - skills inventories, replacement
charts, & markovs analysis
skill inventories - Answers - Manual or computerized records summarizing employees'
education, experience, interests, skills, and so on, which are used to identify internal
candidates eligible for transfer or promotion.
forecasting the supply for inside candidates: what is used for internal
promotion/transfer? - Answers - skill inventories
replacement chart - Answers - A visual representation of which employee will replace
the existing incumbent in a designated position when it becomes vacant.
What chart represents who will replace who? - Answers - replacement charts
what are the readiness codes in replacement charts - Answers - A- ready now
B -ready a year from now
C- ready in two years from now
D- readiness not determined
Human Resource Planning - Answers - Process to ensure that an organization has
people available (employed) who have the right competencies and that these people
are being effectively utilized in the right capacities in order for the company to achieve
its desired objectives
Forecasting Labor Supply - Answers - considerations: changes to the external labour
force
techniques used: replacements charts and replacement summary
Forecasting Labor Demand - Answers - quantitative and qualitative techniques
Quantitative Techniques - Answers - - trend analysis
- ratio analysis
- scatterplots
- regression analysis
Qualitative Techniques - Answers - - nominal group technique
- delphi technique
gap analysis - Answers - comparing labor supply and demand forecasts to identify
future talent needs
Solution Analysis - Answers - Determine the next course of action to reach the point of a
labour equilibrium
Human resource planning helps: - Answers - - meet strategic goals & objectives
- achieve economies in hiring new workers
- make major market labour demands successfully
- anticipate and avoid shortages and surpluses of human resources
- control or reduce labour costs
Steps in HR Planning - Answers - step 1: Forecast demand for labour
step 2: determine supply of labour- external or internal
step 3: identify the gap between demand and supply
step 4: determine action plans to eliminate the gap
Steps in HR Planning - Answers - step 1: assess current employee levels (SAP and
PeopleSoft)
step 2: predict future needs
step 3: predict employee movement
, step 4: plan external hiring needs
Oversupply - Answers - attrition, leave of absence without pay, job sharing, reduced
hours
shortage - Answers - full-time part-time hiring, independent contractors, use of overtime,
retention strategies
trend analysis - Answers - The study of a firm's past employment levels over a period of
years to predict future needs
ratio analysis - Answers - A forecasting technique for determining future staff needs by
using ratios between, for example, sales volume and number of employees needed.
nominal group technique - Answers - involves a group of experts meeting face to face,
steps included independent idea generation, clarification and open discussion, and
private assessment
nominal group technique - Answers - you are the HR manager of a company and the
CEO has asked you to assist in bed for casting future HR needs. she would like to use a
technique amount directors and would leave greater results
Delphi Technique - Answers - A judgmental forecasting method used to arrive at a
group decision, typically involving outside experts as well as organizational employees.
Ideas are exchanged without face-to-face interaction and feedback is provided and
used to fine-tune independent judgments until a consensus is reached.
forecasting supply for internal candidates - Answers - skills inventories, replacement
charts, & markovs analysis
skill inventories - Answers - Manual or computerized records summarizing employees'
education, experience, interests, skills, and so on, which are used to identify internal
candidates eligible for transfer or promotion.
forecasting the supply for inside candidates: what is used for internal
promotion/transfer? - Answers - skill inventories
replacement chart - Answers - A visual representation of which employee will replace
the existing incumbent in a designated position when it becomes vacant.
What chart represents who will replace who? - Answers - replacement charts
what are the readiness codes in replacement charts - Answers - A- ready now
B -ready a year from now
C- ready in two years from now
D- readiness not determined
