Human Resources

Question 1

Trend Analysis

Answer 1

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

Question 2

Leading indicators

Answer 2

Objective measures that accurately predict future labor demand

Question 3

Transitional matrix

Answer 3

Chart that lists job categories held in one period and shows the proportion of employees in each of those job categories Ina future period

Question 4

Core competency

Answer 4

Set of knowledge and skills that make the organization superior to competitors and create value for customers

Question 5

Downsizing

Answer 5

Planned elimination of large numbers of personnel with the goal of enhancing the organizations competitiveness

Question 6

Outsourcing

Answer 6

Contracting with another organization to perform a broad set of services

Question 7

Workforce Utilization Review

Answer 7

Comparison of employees in protected groups with the proportion that each group represents in the relevant labor market

Question 8

Forecasting

Answer 8

Attempts to determine the supply of and demand for various types of human resources to predict areas within the organization where there will be labor shortages or surpluses