Workforce Management

Question 1

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

Answer 1

Regression analysis

Question 2

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

Answer 2

Simulations

Question 3

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 3

Reduction in force (RIF)

Question 4

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

Answer 4

Joint employment

Question 5

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

Answer 5

Replacement planning

Question 6

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

Answer 6

Independent contractors

Question 7

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

Answer 7

Workforce planning

Question 8

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 8

Due diligence

Question 9

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

Answer 9

Judgmental forecasts

Question 10

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

Answer 10

Knowledge management (KM)

Question 11

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 11

Workforce analysis

Question 12

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

Answer 12

Downsizing

Question 13

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 13

Workforce profile

Question 14

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

Answer 14

Turnover rate

Question 15

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 15

Succession planning

Question 16

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

Answer 16

Restructuring

Question 17

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

Answer 17

Turnover

Question 18

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

Answer 18

Co-employment

Question 19

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

Answer 19

Talent management