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BUSN 3350 > ch 5: human resources planning > Flashcards

ch 5: human resources planning Flashcards

1
Q

what is human resources planning (HRP)?

A
  • the process of forecasting future human resources requirements to ensure that the organization will have the required number of employees with the necessary skills to meet its strategic objectives
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2
Q

what are the key steps of human resources planning?

A
  • analyze forecasted labor supply
  • forecast labor demands
  • plan and implement HR programs to balance supply and demand
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3
Q

what is the strategic importance of HRP?

A
  • meet strategic goals and objectives
  • achieve economics in hiring new workers
  • meet major labour market demands successfully
  • anticipate and avoid shortages and surpluses of human resources
  • control and reduce labour costs
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4
Q

give a sample workforce planning approach

A
  • review business plans and workforce data
  • identify positions that need to be filled and other workforce gaps (supply/demand projections)
  • develop workforce strategic plan
  • prioritize key gaps
    • identify training and other plans to fill gaps
    • implement changes
  • monitor process through metrics
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5
Q

what are external environmental factors to monitor?

A
  • economic conditions
  • market and competitive trends
  • new or revised laws relating to HR
  • social concerns (health care, childcare, educational priorities)
  • technological changes
  • demographic trends
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6
Q

what are the steps in human resources planning?

A
  1. forecasting the availability of candidates (supply)
  2. forecasting future HR needs (demand)
  3. planning and implementing HR programs to balance supply and demand
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7
Q

describe step 1 of human resource planning

A

forecasting supply of internal candidates

  • current employees who can be trained, transferred or promoted to meet anticipates needs
  • skills inventories:
    • summary of current employees’ education, experiences, interests, and skills
    • used to identify eligibility for transfer/promotion
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8
Q

what are the uses of replacement charts?

A
  • track potential candidates for critical positions
  • internal candidates’ age, present performance rating, and profitability status
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9
Q

what are replacement summaries?

A
  • lists of likely replacements for each position
  • indicates relative strengths/weaknesses, current position, performance, profitability, age, and experience
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10
Q

what is the purpose of succession planning and what does it include?

A
  • ensure supply of successors for key jobs so that careers can be effectively planned and managed
  • includes:
    • analysis of demand for managers and professionals
    • audit and projection of likely future supply
    • planning individual career paths, career counselling
    • accelerated promotions
    • planned strategic recruitment
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11
Q

describe a markov analysis

A
  • method of forecasting internal labour supply
  • involves tracking the pattern of employee movement through various jobs and developing a transitional probability matrix
  • shows actual number of employees in each job, promotions, demotions, transfers, separations
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12
Q

explain step 2 in human resources planning

A

forecasting future HR needs (demand)

  • projected turnover due to resignations or terminations
  • quality and nature of current employees in relation to changing needs of the firm
  • changes in products/services or new markets which require new employee skill mix
  • technological or administrative changes
  • availability of financial resources
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13
Q

what are quantitative approaches to forecasting HR needs

A
  • trend analysis
  • ratio analysis
  • scatter plot
  • regression analysis
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14
Q

what is the purpose of trend analysis?

A

predict future needs based on past employment levels

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15
Q

what is the purpose of a ratio analysis?

A

ratio of business activity and number of employees needed

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16
Q

what is the purpose of a scatter plot?

A

used to identify the relationship between causal factors and staffing levels

17
Q

what is the purpose of regression analysis?

A

examines the statistical relationship between business activity and employees

18
Q

what are some qualitative approaches to forecasting HR needs?

A
  • nominal group technique
  • Delphi technique
19
Q

what are nominal group techniques and the pros/cons?

A
  • group of experts meets face to face to generate ideas which are clarified in both open discussion and private assessment
  • pros: involves key decision-makers; future focus; greater acceptance of results
  • cons: subjectively and potential group pressure
20
Q

what is the Delphi technique and the pros/cons?

A
  • judgmental forecasting method for group decisions
  • ideas are exchanged without face-to-face interaction
  • feedback is used to fine-tune until consensus is reached
  • pros: involves key decision markers; future focus
  • cons: may not be objective; time-consuming; costly; difficulty in integrating diverse opinions
21
Q

what is staffing table?

A
  • estimate of short-term and long-range HR requirements
  • pictorial representation of all jobs within the organization
  • shows number of current incumbents and future employment requirements (monthly or yearly)
22
Q

what is labour equilibrium?

A

expected supply matches the actual demand; no change to change HR plans

23
Q

what is labour surplus?

A

internal supply of employees exceeds the organization’s forecasted demand

24
Q

what is labour shortage?

A

internal supply of human resources cannot meet the organization’s needs

25
Q

what are some ways to respond to labour surplus?

A
  • hiring freeze or attrition
  • early retirement buyout programs
  • job sharing
  • work sharing
  • reduced workweek
  • layoff
  • termination
  • leave of absence
26
Q

what is a hiring freeze or attrition?

A

normal seperation for various reasons

27
Q

what is the reason for early retirement buyout programs?

A

accelerates attrition

28
Q

what is job sharing?

A

single position done by more than one employee

29
Q

what is work sharing?

A

work three/four days a week

30
Q

what is a reduced workweek?

A

work fewer hours

31
Q

what is a layoff?

A

temporary or permanent withdrawal of employment for economic or business reasons

32
Q

what is termination?

A

withdrawal of employment, usually related to job performance

33
Q

what is a leave of absence?

A

period of time away from work; job will be guaranteed on return

34
Q

what are some labour surplus management issues?

A
  • survivor syndrome
  • summplemental unemployment benefits
  • severance packages
35
Q

what is survivor syndrome?

A

remaining employees may suffer stress, increased errors, feelings of guilt

36
Q

what is the purpose of supplemental unemployment benefits?

A

alleviate some of the stress for laid-off employees

37
Q

what is a severance package?

A

lump sum payments made to avoid wrongful dismissal lawsuits

38
Q

what are some internal and external ways to respond to labour shortages?

A

internal:

  • transfers
  • promotions
  • employee retention strategies

external:

  • recruiting new hires
  • temporary employees
  • outsourcing

BUSN 3350 (14 decks)

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