Chapter 5

Question 1

HR planning consists of 3 stages

Answer 1

• Forecasting
• Goal setting and strategic planning
• Program implementation and evaluation

Question 2

HR planning

Answer 2

So to meet businesses objectives and gain a competitive advantage over competitors

Question 3

Forecasts of labor demand & supply

Answer 3

• forecasts of labor surplus of or shortage
• goal setting and strategic planning
• program implementation and evaluation

Question 4

Forecasting steps

Answer 4

• forecast labor demand
• determine labor supply
• determine labor surplus or shortage

Question 5

Trend analysis

Answer 5

Constructing and applying statistical models that predict labor demand for the next year, given relatively objective statistic from previous year

Question 6

Leading indicators

Answer 6

Objective measurements that accurately predict future labor demand

Question 7

Transitional matrix

Answer 7

A chart that lists job categories held in one period and shows proportion of employees in each of those job categories in a future period

Question 8

Transitional matrix answers theses two questions

Answer 8

• where did people in each job category go

- where did people now in each job category come from