CHAPTER 5 Flashcards
Forecasting method that extrapolates from historical trends.
TREND ANALYSIS
A quantitative method of projecting HR demand by analyzing the historical relationship between an operational index and the number of employees required.
RATIO ANALYSIS
Use past data to predict future demand.
TIME SERIES MODELS
Presupposes that a linear relationship exists between one or more independent variables, which are predicted to affect the dependent variable.
REGRESSION ANALYSIS
A statistical technique that permits the testing of multiple relationships simultaneously in a theoretically derived model.
STRUCTURAL EQUATION MODELLING
Increase the reliability of the information by working through an iterative process where each expert has the opportunity to clearly explain his or her assumptions and decisions.
MANAGEMENT SURVEY
A method for imagining future possible organizational states and the resulting capabilities, activities, or strategies that are necessary to be successful in those future states.
SCENARIO PLANNING
A process in which the forecasts and judgments of a selected group of experts are solicited and summarized in an attempt to determine the future HR demand.
DELPHI TECHNIQUE
Long-run forecasting technique utilizing expert assessments. In this model, the group meets face to face but only after individual preparatory work has been done.
NOMINAL GROUP TECHNIQUE
Quantitative, operational, or short-run demand estimates that contain the number and types of jobs required by the organization as a whole and for each subunit, division, or department.
HR BUDGETS
Total HR demand requirement for operational or short-run time periods.
STAFFING TABLE
Incorporates a set of assumptions about relationships among variables in a mathematical algorithm.
SIMULATION
