Organization: Workforce Management

Question 1

Act of reorganizing the legal, ownership, operational, or other structures of an organization.

Answer 1

Restructuring

Question 2

“Snapshot” assessment of the availability of qualified backup for key positions.

Answer 2

Replacement planning

Question 3

Statistical method used to determine whether a relationship exists between variables and the strength of the relationship.

Answer 3

Regression analysis

Question 4

Termination of employment of individual employees or groups of employees for reasons other than performance, for example, economic necessity or restructuring; also known as downsizing.

Answer 4

Reduction in force (RIF)

Question 5

Representations of real situations; give organizations the opportunity to speculate as to what would happen if certain courses of action were pursued.

Answer 5

Simulations

Question 6

Systematic approach to anticipate human capital needs and data HR professionals can use to ensure that appropriate knowledge, skills, or abilities will be available when needed to accomplish organizational goals and objectives.

Answer 6

Workforce analysis

Question 7

Part of workforce analysis that identifies the current make-up of employees in terms of their demographics, skills, competencies, performance levels, expected retirement dates, pay grades, and other factors that help explain the workforce’s composition.

Answer 7

Workforce profile

Question 8

Activities needed to ensure that workforce size and competencies meet current and future organizational and individual needs.

Answer 8

Workforce planning

Question 9

Act of replacing employees leaving an organization; attrition or loss of employees.

Answer 9

Turnover

Question 10

Annualized formula that tracks number of separations and total number of workforce employees per month.

Answer 10

Turnover rate

Question 11

Development and integrations of HR processes that retain the knowledge, skills, and abilities of employees that will meet current and future organizational needs.

Answer 11

Talent management

Question 12

Process of implementing a talent management strategy for identifying and fostering the development of high-potential employees or other job candidates who, over time, may move into leadership positions of increased responsibility.

Answer 12

Succession planning

Question 13

Situation in which an organization shares responsibility and liability for its alternative workers with an alternative staffing supplier; also known as joint employment.

Answer 13

Co-employment

Question 14

Process of investigating a decision thoroughly before finalizing it to identify all potential factors that could affect the positive and negative impacts of the decision.

Answer 14

Due diligence

Question 15

Process of creating, acquiring, sharing, and managing knowledge to augment individual and organizational performance.

Answer 15

Knowledge management (KM)

Question 16

Use of information from past and present to predict future conditions.

Answer 16

Judgmental forecasts

Question 17

Situation in which an organization shares responsibility and liability for its alternative workers with an alternative staffing supplier; also known as co-employment.

Answer 17

Joint employment

Question 18

Self-employed individuals hired on a contract basis for specialized services

Answer 18

Independent contractors

Question 19

Termination of employment of individual employees or groups of employees for reasons other than performance, for example, economic necessity or restructuring; also know as reduction in force (RIF).

Answer 19

Downsizing