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CKE 2 Exam Prep > Unit 9 - Human Resources Metrics, Reporting, and Financial Management > Flashcards

Unit 9 - Human Resources Metrics, Reporting, and Financial Management Flashcards

1
Q

ROI Formula

A

(Benefit - Cost)/Cost

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2
Q

What are 3 different types of web-based systems?

A

EE Self-Serve
Manager Self-Serve
HR Portals

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3
Q

What are the 3 types of HR Management Systems?

A
  1. Enterprise Resource Planning
  2. Stand Alone HRIS
  3. Speciality Products
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4
Q

Enterprise Resource Planning

A

These systems support standardized data processes and allow for enterprise wide integration of business processes across functional areas.

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5
Q

What do the Federal and provincial legislation regulate in terms of info & legal compliance?

A
  • What is collected
  • How it is stored
  • Who has access
  • How long it is retained
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6
Q

Human Capital Metrics look at what type of information?

A

Employee characteristics

  • Education level
  • Experience
  • Skills Inventories
  • Performance Scores
  • Tenure or Service
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7
Q

Human Resources Metrics

A

Describe the efficiency and effectiveness of HR programs

  • > Impact
  • > Speed
  • > Cost

This info is typically collected through HR audits.

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8
Q

HR Audit

A

A review of HR policies, programs, processes, and documentation to identify opportunities to improve efficiency, effectiveness, customer satisfaction, and legal compliance.

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9
Q

Efficiency Metrics

A

Tracks speed & cost. The time required to fill a position, cost of a training program, speed of grievance resolution are examples.

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10
Q

Effectiveness Metrics

A

Tracks the value of the results of an HR activity. Quality of hires, measure of increased performance following a training program.

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11
Q

Operational metrics

A

Assesses the efficiency and effectiveness of programs and services.

Short-term impact

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12
Q

Strategic metrics

A

Assesses the linkage between HR programs and services and the organization’s strategic goals.

long-term impact

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13
Q

What is the 5C Model of HRM Impact

A

Suggests that there are 5 important areas to measure when evaluating what value HR brings to an org.

  • Compliance
  • Client Satisfaction
  • Culture Management
  • Cost Control
  • Contribution
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14
Q

Baselines

A

Used to compare YoY results.

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15
Q

Benchmarking

A

Compares current practice with best practices or practices outside the organization.

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16
Q

Absenteeism measures

A

of workdays missed due to illness per full time equivalent employee (FTE) = sick days / FTE

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17
Q

Overtime measures

A

Average # of overtime hours worked by each individual
contributor = overtime hours / individual contributor
headcount

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18
Q

Human Capital Return on Investment

A

Rate of return for each dollar invested in employee pay and benefits

Revenue - [Operating Expenses- (Compensation and Benefits Costs)] / Compensation & Benefit Costs

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19
Q

Compa-ratio for an individual

A

Compa-Ratio is used to show where an individuals salary is compared to the mid-point of their salary band.

Individual’s salary/midpoint of salary band

Ratio’s usually fall within 80% - 120%.

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20
Q

Vacancy Rate

A

The % of positions being actively recruited for.

of vacant positions/headcount

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21
Q

External Hire Rate

A

of external hires / # all positions filled

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22
Q

Average time to fill when hiring from outside

A

sum of all external days to fill / # of external recruits

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23
Q

Cost of external hires

A

total external hiring costs / # external recruits

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24
Q

Quality of external hires by source

A

Quality of external hires by source = average performance ratings of new recruits after 3 months from each hiring source

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25
Q

Turnover

A

Turnover = (resignations + retirements + involuntary terminations) / headcount

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26
Q

Executive voluntary turnover rate

A

(executive resignations + executive retirements) / executive headcount

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27
Q

Replacement Charts

A

Indicate the time required for an individual to be ready for their next promotion as well as the training that may be necessary to prepare them for it.

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28
Q

Succession Planning Rate

A

of succession planning candidates / executive level headcount

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29
Q

Grievance Incidence

A

of open grievances / unionized headcount

30
Q

% of grievances closed

A 
# of grievances closed / # of
open grievances

Grievance closure rate indicates the competency level of those handling grievances and of the quality of the relation btwn union & management.

31
Q

Arbitrated grievance rate

A

of grievances gone to arbitration / # of open grievances

32
Q

Incidence of Learning Programs/Courses

A

Incidence = # of learning & development events /

FTE

33
Q

Duration

A

of learning & development hours / FTE

34
Q

Participation

A

employees attending learning & development events / # of all employees

35
Q

What is the research process?

A 
Identify the problem
Review the situation
Formulate the hypothesis
Design program
Implement program
Evaluate program
36
Q

What are 4 common research designs?

A
  1. Surveys
  2. Experimental
  3. Qualitative
  4. Existing research
37
Q

Stratified Sampling

A

Selection of participants in a study by choosing a group of employees who represent the org in some way (e.g., gender, department, location, occupation, etc)

38
Q

Acquiescence response styles

A
  • When a person gives the same favorable response to every question.
  • To avoid, word some questions positively and some negatively in order to change the scale.
39
Q

Social desirability

A

• When a person gives the answer they think you want
to hear.
• To avoid, use a forced choice behaviourally anchored check-list.

40
Q

Criterion measures

A

Ensure we are measuring what is important (i.e., the competencies related to a job when conducting interview assessments).

41
Q

Criterion relevance

A

Ensures the criteria are relevant to what we are trying to predict (i.e., all the right competencies are assessed).

42
Q

Criterion deficiency

A

Occurs when we haven’t assessed all the necessary criteria (i.e., an important competency is missing from our assessment).

A recruitment process that does not assess the essential skills required for the job is criterion deficient.

43
Q

Criterion contamination

A

Occurs when we measure things that are irrelevant.

44
Q

What are the 4 types of measurement scales?

A

Nominal Scales
Ordinal Scales
Interval Scales
Ratio Scales

45
Q

Nominal Scales

A

A list of variables that have no “value” (e.g., department name).

46
Q

Ordinal Scales

A

A list of variables that have an order (e.g., what

employees like best or least; or what the want most, etc.).

47
Q

Interval Scale

A

A scale that tells us the mathematical difference
between two responses (e.g., the Likert Scale).

Can calculate means & average responses.

48
Q

Ratio Scales

A

Show the relationship between two variables (e.g.,
sales per employee).

E.g., Sales per employee, # of training hours per employee

49
Q

Content Validity

A
  • Ensures the measure accurately measures what it is supposed to measure.
  • A screening tool that tests for a skill that is not needed by the job lacks content validity.
  • The appropriateness of measurement obtained by skill-based assessment test.

E.g., Keyboarding test accurately tests for keyboarding skills

50
Q

Criterion-Related Validity

A

Ensures that what is being measured is relevant to the job. A recruitment process that does not assess the essential skills required for the job is criterion deficient.

The job requires the ee to use the keyboard on the job

51
Q

Predictive Validity

A

Ensures that the measure can predict the dependent variable.

Employee completes an assessment, then test scores are compared against performance sometime in the future.

52
Q

Construct Validity

A

Should demonstrate that scores on a particular test do predict the theoretical trait it says it does. Measures abstract constructs, such as IQ and Personality Type.

53
Q

Concurrent Validity

A

Shows that employees currently performing well on the job have assessment results that concur with new applicants test results.

Will show that selection test scores of existing employees positively correlate with their performance.

Suffer from range restriction.

54
Q

Range Restriction

A

We typically tend to assess the skills of higher performing employees. There aren’t likely poor performers we can compare results with.

55
Q

Test-Retest Reliability

A

When a person achieves the same score when tested twice using the same test.

56
Q

Split-half Reliability / Internal consistency Reliability

A

When the score a person achieves on one-half of the test is the same as the score they receive on the other half of the test.

57
Q

Inter-rater Reliability

A

Ensures reliability across raters; for example, when two different raters have scored a candidate similarly.

58
Q

Mode

A

Response given by most people

59
Q

Median

A

The median value of a range of values

Another term for median is 50th percentile, number below which 50% of responses are lower.

60
Q

Regression

A

Regression analysis uses correlations to predict an outcome.

61
Q

Affinity Diagrams / Mind Maps

A

Way to organize ideas gleaned from brainstorming sessions by grouping data into themes based on their relationships.

62
Q

Cause & Effect Diagrams / Fish Bone Diagrams

A

Cause-and-effect diagram that helps managers track down the reasons for imperfections, variations, defects, or failures. The diagram looks just like a fish’s skeleton with the problem at its head and the causes for the problem feeding into the spine.

63
Q

Balance Sheet / Statement of Financial Position

A

Reports the resources (assets) owned by a company and the claims against those resources (liabilities and shareholders equity) at a specific point in time.

Assets = Liabilities + Shareholders’ Equity

64
Q

Income Statement

A

Shows an organization’s total profit and loss over a period of time.

Net Income = Revenues - Expenses

65
Q

Statement of Cash Flows

A

Reports the sources and uses of a company’s cash over a period of time. Net cash provided from operating expenses, net cash used for investing and finances activities.

Also known as the statement of changes in financial position.

66
Q

Direct Cost

A

Easily traced to a cost object

67
Q

Indirect Cost

A

Cannot be easily, accurately, or economically traced to a cost object.

68
Q

The formula for estimating the value added by human capital is:

A

[Total revenue - (Operating expenses - Total compensation costs)] / Total compensation costs

69
Q

The main purpose of the financial accounting system of an organization is to:

A

Prepare financial accounting reports for stakeholders

70
Q

Costs for maintaining classroom facilities year-round, or for the purchase of projectors, televisions, and VCRs for the training department, are examples of:

A

Overhead costs

71
Q

Dysan, a manufacturer of plastic disc holders, held a training course for all clerical employees. Postage, shipping and telephone were charged as __________ cost, while the fringe benefits of the instructors were charged as __________ cost.

A

Indirect; direct

72
Q

Validity Generalization

A

The assessment will predict successful applicants for many different situations.

CKE 2 Exam Prep (12 decks)

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