the real HRM 402 Midterm

Question 1

environmental scanning

Answer 1

Labor force size and composition
- Labor force trends
- Participation rates
- Immigration

Economic conditions
- Overall state of the economy
- Unemployment
- Inflation

Competition
Education
Technological advances
Government and Regulatory Agencies

Question 2

short-term forecasting

Answer 2

Budgeting
- Bottom-up: unit managers identify their employment needs based on anticipated business activity
- Top-down: top managers place constraints on units (either a budget allocation or number of employees)

Work-load analysis
- Calculates how many employee hours will be needed to produce the output the organization expects to achieve
Example: school district

Question 3

long-term forecasting

Answer 3

• unit demand method
• expert opinion
• trend projections
• probabilistic models
• Markov analysis