CHAPTER 6

Question 1

Existing employees who can be retrained, promoted, transferred, or otherwise redeployed to fill anticipated future HR requirements.

Answer 1

INTERNAL SUPPLY

Question 2

Members of the workforce not currently employed by the firm.

Answer 2

EXTERNAL SUPPLY

Question 3

The grouping of employees based on characteristics that are relevant to the employee experience such as career preferences, demographics, work-life preferences, or benefits.

Answer 3

EMPLOYEE SEGMENTATION

Question 4

A situation in which the supply of a particular form of human capital available to the firm is inadequate to address the demand.

Answer 4

SKILLS GAP

Question 5

The ability to customize HR practices at the employee level efficiently and at low cost.

Answer 5

MASS CUSTOMIZATION

Question 6

An individualized personnel record held on each employee except those currently in management or professional positions.

Answer 6

SKILLS INVENTORY

Question 7

An individualized personnel record for managerial, professional, or technical personnel that includes all elements in the skills inventory.

Answer 7

MANAGEMENT INVENTORY

Question 8

Also referred to as “probabilistic” or “stochastic” model, a model that produces a series of matrices that detail the various patterns of movement to and from the various jobs in the organization.

Answer 8

MARKOV MODEL

Question 9

The likelihood than an individual in a specific job will be promoted, terminated, moved laterally, demoted, or stay in the job.

Answer 9

TRANSITIONAL PROBABILITIES

Question 10

Sequences of movements between various job states.

Answer 10

MARKOV CHAINS

Question 11

A complex mathematical procedure commonly used for project analysis. It can determine an optimum or best-supply mix solution to minimize costs or other constraints.

Answer 11

LINEAR PROGRAMMING

Question 12

A technique used to analyze the chain or ripple effect that promotions or job losses have on the movements of employees.

Answer 12

MOVEMENT ANALYSIS

Question 13

Also referred to as “renewal” or “sequencing” model, analyzes flow of employees throughout the organization by examining inputs and outputs at each hierarchical or compensation level.

Answer 13

VACANCY MODEL

Question 14

Is used to determine the extent to which these openings will be filled by internal and external supply.

Answer 14

ORGANIZATIONAL POLICY

Question 15

When errors in estimating the supply of human capital are amplified along the supply chain, resulting in large overestimates of hiring needs.

Answer 15

BULLWHIP EFFECT