MAN6635 Exam 3 | Questions with 100% Correct
Answers | Verified | Latest Update 2026
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Terms in this set (39)
HR Planning how much labor we have, how much we will need,
and how we can bring these into alignment
3 forecasting methods benchmarking: seeing what other people are doing
statistical methods: look at leading indicators (i.e.,
sales this year correlating with labor demand next
year)
subject matter experts (educated guess): taking
into account other factors like product launches,
competitive change, etc
transactional matrix
Surplus vs Shortages Comparing the results of demand and supply
forecasting tells us whether we're likely to have
surplus or shortages Depending on which we
forecast, we plan to implement various strategies
for creating equilibrium
, Methods for correcting surplus Downsizing
Reduce pay
Demotions
Transfers
Early retirement
Natural attrition
Hiring freeze
Methods for correcting shortages Existing people work harder (not practical and
unfair)
Use temporary employees
Outsource
Promote within
Decrease voluntary turnover
Recruit new employees
workforce an enterprises employees
labor force pool of potential employees form which the firm
hires
Challenges of international staffing Availability of data on foreign labor forces- need to
gauge amount and quality of talent in subsidiary
countries
Increasing diversity of labor forces
Brain drain
Lack of suitable candidates for management
Population characteristics: shortage and surplus
balancing act
Answers | Verified | Latest Update 2026
Save
Terms in this set (39)
HR Planning how much labor we have, how much we will need,
and how we can bring these into alignment
3 forecasting methods benchmarking: seeing what other people are doing
statistical methods: look at leading indicators (i.e.,
sales this year correlating with labor demand next
year)
subject matter experts (educated guess): taking
into account other factors like product launches,
competitive change, etc
transactional matrix
Surplus vs Shortages Comparing the results of demand and supply
forecasting tells us whether we're likely to have
surplus or shortages Depending on which we
forecast, we plan to implement various strategies
for creating equilibrium
, Methods for correcting surplus Downsizing
Reduce pay
Demotions
Transfers
Early retirement
Natural attrition
Hiring freeze
Methods for correcting shortages Existing people work harder (not practical and
unfair)
Use temporary employees
Outsource
Promote within
Decrease voluntary turnover
Recruit new employees
workforce an enterprises employees
labor force pool of potential employees form which the firm
hires
Challenges of international staffing Availability of data on foreign labor forces- need to
gauge amount and quality of talent in subsidiary
countries
Increasing diversity of labor forces
Brain drain
Lack of suitable candidates for management
Population characteristics: shortage and surplus
balancing act
