Chapter 5 Flashcards
a mathematical way of calculating the number of employees a firm needs to produce certain levels of outputs.
Staffing Ratio
a graphic that shows how two different variables are related.
Scatter Plots
using past employment patterns to predict future needs.
Trend Analysis
relying on the experience and insights of people in the organization to predict a firm’s future employment needs.
Judgemental Forecasting
a quantitative technique used to analyze internal labor markets and forecast internal labor supply.
Transition Analysis
a detailed record or database that summarizes each employee’s skills, competencies, and qualifications.
Talent Inventories
visually shows each of the possible successors for a job and summarizes their present performance, promotion readiness, and development needs.
Replacement Chart
strategy to proactively address an anticipated surplus of shortage of employees.
Action Plan
relocating an entire business function to an independent service provider.
Business Process Outsourcing
the proportion of applicants moving from one stage of the hiring process to the next.
Staffing Yields
the percentage of applicants ultimately hired.
Hiring Yields
forecasting based on historical data on the average number of hires typically made per recruiter of the average number of recruits processed per recruiter over a given period.
Work Load Driven Forecasting
the total cost associated with the compensation of the newly hired employees.
Staffing Efficiency
