Workforce Management

Question 1

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

Answer 1

Restructuring

Question 2

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

Answer 2

Joint Employment

Question 3

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 3

Workforce Profile

Question 4

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

Answer 4

Knowledge Management (KM)

Question 5

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

Answer 5

Turnover

Question 6

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

Answer 6

Judgmental Forecasts

Question 7

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

Answer 7

Turnover Rate

Question 8

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

Answer 8

Independent Contractors

Question 9

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 9

Reduction in Force (RIF)

Question 10

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

Answer 10

Regression Analysis

Question 11

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 11

Due Diligence

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

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

Answer 13

Co-Employment

Question 14

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

Answer 14

Workforce Planning

Question 15

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

Answer 15

Talent Management

Question 16

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 16

Workforce Analysis

Question 17

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

Answer 17

Replacement Planning

Question 18

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

Answer 18

Simulations

Question 19

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 19

Succession Planning