Human Resource Management Exam 2 Study Guide

Human Resource Management Exam 2 Study Guide Labor Supply - Answer-availability of workers with the required skills to meet the firm's labor demand Labor Demand - Answer-How many workers the org will need in the future. Human Resource Planning - Answer-process an org uses to ensure that it has the right amount and the right kind of people to deliver a particular level of output or services in the future. Labor Surplus - Answer-Leads to layoffs Internal Labor Market - Answer-existing employees External Labor Market - Answer-outside the organization Succession Planning - Answer-grooming current employees to take over vacant positions (promoting from within) Forecasting - Answer-making decisions such as payouts based on a worker surplus or shortage EMILLECT 2024/2025 ACADEMIC YEAR ©2024 EMILLECT. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER, 2024 Page 2/9 qualitative forecasting - Answer-rely on experts qualitative judgements or subjective estimates of labor demand and supply. quantitative forecasting - Answer-rely heavily on past data or previous relationships between staffing levels and other variables such as outputs or revenues Recruitment - Answer-the process of generating a pool of qualified candidates for a particular job; the first step in the hiring process Selection - Answer-The process of making a "hire" or "no hire" decision regarding each applicant for a job; the second step in the hiring process Socialization - Answer-the process of orienting new employees to the organization and the unit in which they will be working; the third step in the hiring process. Major Costs associated with turnover - Answer-Seperation, Recruitment, Selection, Hiring, Productivity Major challenges in hiring process - Answer-determining most important personal characteristics to performance, measuring those characteristics, evaluating applicants motivation levels, deciding who should make the selection decision. Sources of Recruitment - Answer-current employees, referrals from current employees, former employees, former military, print/radio, internet, employment agencies, temp workers, college recruiting, customers EMILLECT 2024/2025 ACADEMIC YEAR ©2024 EMILLECT. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER, 2024 Page 3/9 Nontraditional Groups that can be recruited - Answer-prisoners, welfare recipients, senior citizens, & workers from foreign countries Flypaper approach - Answer-try to attract as many applicants as possible. emphasize good points of job. gives unrealistic expectations high turnover Realistic Job Preview (RJP) - Answer-show good AND bad points of job lower expectations (reduce shock, allow time to develop coping mechanisms) more realistic expectations of job lower turnover Cost per hire - Answer-cost/hires yield ratio - Answer-hires/applicants applicant quality - Answer-quits/hires Selection Tools - Answer-personality tests, intelligence tests, work sample tests, interviews Selection Measures - Answer-should be both valid and reliable concurrent validity - Answer-indicates the extent to which scores on a selection measure are related to job performance levels EMILLECT 2024/2025 ACADEMIC YEAR ©2024 EMILLECT. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER, 2024 Page 4/9 predictive validity - Answer-indicates the extent to which scores on a selection measure correlate with future job performance deficiency error - Answer-occurs when a component of the domain being measured is not included in the measure contamination error - Answer-occurs when a measure includes unwanted influences validity - Answer-the extent to which the technique measures the intended knowledge skill or ability content validity - Answer-assesses the degree to which the content of the selection method is representative of job content empirical validity - Answer-demonstrates the relationship between the selection method and job performance letters of recommendation - Answer-not real