Chapter 2(Strategy And Human Resources Planning) Flashcards
Attrition
A natural departure of employees from organizations through quits, retirements, and deaths.
Balanced scorecard (BSC)
A measurement framework that helps managers translate strategic goals into operational objectives.
Benchmarking
The process of comparing the organization’s processes and practices to those of other companies.
Core Capabilities
Integrated knowledge sets within an organization that distinguish it from its competitors and deliver value to customers.
Core values
The strong and enduring beliefs and principles that the company uses as a foundation for its decisions.
Cultural Audits
Audits of the culture and quality of work life in an organization.
Environmental Scanning
Systematic monitoring of the major external forces influencing the organization.
Hiring freeze
A practice whereby new workers are not hired as planned or workers who have left the organization are not replaced.
Human Capital Readiness
The process of evaluating the availability of critical talent in a company and comparing it to the firm’s supply.
Human resources planning (HRP)
The process of anticipating and providing for the movement of people into, within, and out of an organization.
Management forecasts
The opinions (judgments) of supervisors, department managers, experts, or others knowledgeable about the organization’s future employment needs
Markov analysis
A method for tracking the pattern of employee movements through various jobs.
Mission
The basic purpose of the organization as well as its scope of operations.
Organizational Capability
The capacity of the organization to act and change in pursuit of sustainable competitive advantage.
Quality of fill
A metric designed to assess how well new hires are performing on the job.
