Workforce Management

Question 1

Co-employment

Answer 1

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

Question 2

Downsizing

Answer 2

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).

Question 3

Due diligence

Answer 3

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.

Question 4

Independent contractors

Answer 4

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

Question 5

Joint employment

Answer 5

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

Question 6

Judgmental forecasts

Answer 6

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

Question 7

Knowledge management (KM)

Answer 7

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

Question 8

Reduction in force (RIF)

Answer 8

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.

Question 9

Regression analysis

Answer 9

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

Question 10

Replacement planning

Answer 10

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

Question 11

Restructuring

Answer 11

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

Question 12

Simulations

Answer 12

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

Question 13

Succession planning

Answer 13

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.

Question 14

Talent management

Answer 14

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

Question 15

Turnover

Answer 15

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

Question 16

Turnover rate

Answer 16

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

Question 17

Workforce analysis

Answer 17

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.

Question 18

Workforce planning

Answer 18

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

Question 19

Workforce profile

Answer 19

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.