Chapter 3 Flashcards
What does Human Resource Planning forecast?
An organization’s future demand for supply of employees and matches supply with demand
This process is proactive and critical for organizational success.
What is the importance of having the proper staff in HR planning?
Critical for success and varies based on different strategies
HR planning facilitates proactive responses to organizational needs.
What are the stages of Human Resource Planning?
- No formal planning
- Minimal; focus on headcount
- Long term forecasts
- Core strategic process
- Advanced HRP
Stages 4 and 5 indicate a more sophisticated approach.
What drives demand in the Human Resource Planning process?
- Strategic plan
- Demographic impacts
- Turnover
- Legal changes
- Technological changes
- Competitors
- Budgets and revenue forecasts
- New ventures
- Organizational and job design
These factors are crucial for accurate forecasting.
What are the forecasting techniques for estimating Human Resource Demand?
- Experts Projection Forecasts
- Trend Projection Forecasts
- Budget planning analysis
- New venture analysis
- Simulation and predictive models
These methods help estimate future HR needs.
What is the Nominal group technique?
Groups of managers make forecasts, discuss ideas, and rank them
This technique leverages collective insights for better forecasting.
What does the Delphi technique involve?
Surveys of groups of experts with iterative feedback until opinions converge
This method aims for consensus among expert opinions.
What are the internal supply indicators in HR planning?
- Human resource audits
- Skill inventories
- Management inventories
- Replacement charts/summaries
- Transition matrices and Markov analysis
These indicators help assess internal workforce capabilities.
What are the external supply indicators in HR planning?
- Labour market analysis
- Community attitudes
- Demographic trends
These factors affect the availability of external labor.
What strategies can be employed to manage an oversupply of human resources?
- Headcount reduction
- Layoffs
- Leave without pay
- Incentives for voluntary separation
- Termination
- Attrition
- Hiring freeze
- Early and phased retirement offers
- Alternative work arrangements
- Job sharing
- Using part-time employees
These strategies help address surplus situations.
What strategies can be employed to manage a shortage of employees?
- Hire full-time employees
- Hire part-time employees
- Hire temporary employees
- Source service providers
- Use independent contractors
- Outsource
- Crowdsource
- Develop employees internally
- Implement succession planning
- Offer flexible schedules
These approaches aim to fill workforce gaps.
What is the purpose of a Human Resource Information System (HRIS)?
To collect, record, store, analyze, and retrieve data concerning an organization’s Human Resources
HRIS supports HR professionals, managers, and employees.
What are key considerations when choosing an HRIS?
- Size
- Information that needs to be captured
- Volume of information transmitted
- Firms objectives
- Technical capabilities
These factors influence HRIS selection.
What is Human Resource Accounting (HRA)?
A process to measure the present cost and future worth of Human Resources to the organization
HRA helps organizations assess the value of their workforce.
True or False: HR planning can vary from no formal planning to a core strategic process.
True
This range reflects the sophistication of HR planning approaches.
