Ch 5- Brooke *done*

Question 1

HR Forecasting

Answer 1

The heart of the HR planning process; can be defined as ascertaining the net requirement for personnel by determining the demand for and supply of human resources now and in the future

Question 2

Transaction-based forecasting

Answer 2

Forecasting that focuses on tracking internal change instituted by the organization’s managers

Question 3

Event-based forecasting

Answer 3

Forecasting concerned with changes in the external environment

Question 4

Process-based forecasting

Answer 4

Forecasting not focused on a specific internal organizational event but on the flow or sequencing of several work activities

Question 5

Strategic Importance of HR Forecasting

Answer 5

Reduces HR Costs
Increases Organizational Flexibility
Ensures a Close Linkage to the Macro Business Forecasting Process
Ensures That Organizational Requirements Take Precedence over Issues of Resource Constraint and Scarcity

Question 6

Key Personnel Analyses Conducted by HR Forecasters

Answer 6

Specialist/Technical/Professional Personnel, Employment Equity-Designated Group Membership, Managerial and Executive Personnel, Recruits

Question 7

Human resources demand

Answer 7

The organization’s requirement for human resources

Question 8

Human resources supply

Answer 8

The source of workers to meet demand requirements, obtained either internally (current members of the organization’s workforce) or from external agencies

Question 9

Designated groups

Answer 9

People of Aboriginal descent, women, persons with disabilities, members of visible minorities

Question 10

Five stages of the forecasting process

Answer 10

1. Identify organizational goals, objectives, and plans
2. Determine overall demand requirements for personnel
3. Assess in-house skills and other internal supply characteristics
4. Determine the net demand requirements that must be met from external, environmental supply sources
5. Develop HR plans and programs to ensure that the right people are in the right place

Question 11

What are the differences between current forecast, short run forecast, medium run forecast, and long run forecast

Answer 11

In order: immediate, next one or two years, next two to five years, five or more years

Question 12

Prediction

Answer 12

A single numerical estimate of HR requirements associated with a specific time horizon and set of assumptions

Question 13

Projection

Answer 13

Several HR estimates based on a variety of assumptions

Question 14

Envelope

Answer 14

Corners of an envelope containing the upper and lower limits or bounds of the various HR projections extending into the future

Question 15

Scenarios

Answer 15

A proposed sequence of events with its own set of assumptions and associated program details

Question 16

Contingency plans

Answer 16

Plans to be implemented when severe, unanticipated changes to organizational or environmental factors complete negate the usefulness of the existing HR forecasting predictions or projections

Question 17

HR surplus

Answer 17

When the internal workforce supply exceeds the organisation’s requirement or demand for personnel

Question 18

Worksharing

Answer 18

A federal government program that aims to help organizations mitigate temporary layoffs through a redistribution of work, earnings, and leisure time

Question 19

Attrition

Answer 19

The process of reducing an HR surplus by allowing the size of the workforce to decline naturally