SPHR Study Guide Flashcards
Define enterprise risk management
practice of forecasting possible risks to the organization and taking steps to mitigate their impact on operations
define HR audit
identifies areas that may be out of compliance with legal requirements or that are in need of updating because of strategic changes within the organization, and it defines elements that are working well.
Define Employment Practices Liability Insurance
Employment practices liability insurance (EPLI) provides protection for employers to help them reduce the potential loss associated with various employment-related claims
define administrative law courts
federal agencies that have the power to order compliance with federal laws in courts ex. NLRB
define lobbying
activity in which people can participate when they want to influence new laws and regulations.
What are the two types of research?
Primary Research
Secondary Research
Define Primary research
the researcher has performed the research
Define Secondary Research
based on information that has been collected or reported by others, such as books or articles by primary researchers, industry standards, or analysis of trends in an organization
What is the scientific method?
1) Identify a problem
2) Create a hypothesis
3) Decide how to test the hypothesis
4) Collect Data to verify the hypothesis
5) Draw conclusions from analysis of the data
Define correlation
measures two variables to determine whether there is a relationship between them
Define Correlation Coefficient
describes the relationship between two variables and is stated as a number between –1.0 and +1.0
define Measures of Central Tendency
often referred to as the average
Define mean average
the sum of the values in a set of numbers, divided by the number of values in the set
Define mode
number that occurs most frequently in a set of numbers.
define moving average
used to calculate an average for a specific period
define weighted average
the more current data is multiplied by a predetermined number to better reflect the current situation
define weighted moving averag
assigns more weight to current data with the use of a predetermined number and drops the oldest data when new data is added.
define time-series forecasts
can be used to measure historic data and provide a basis for projecting future requirements
define trend analysis
compares the changes in a single variable over time
define simple linear regression
the relationship between one variable (for example, staffing) against another variable (such as production output) and allows prediction of one variable from the other
define multiple linear regression
measures the relationship between several variables to forecast another
define simulation models
allow several possible plans to be tested in abstract form