HRM Unit 4

When a firm has more employees than it needs, it can move toward a balanced level by (choose all the answers that apply):

- Natural attrition - Pay reduction - Furloughs - Worksharing

In examining a firm's external environment in terms of ___, we are assessing how often the environment changes.

Volatility

HR planning involves determining the appropriate ___ based on the firm's business needs (choose all the appropriate answers):

- Human resources including (1) number of employees (2) type of employees (3) timing and (4) location

When a firm faces a shortage in human resources, it can consider adopting a practice of ___ to bring about workforce balance (choose all the appropriate answers):

- Overtime - Outsourcing - Temporary/contingent workers - Retrained internal transfers - New external hires - Technological innovations

The use of ___ allow(s) a firm to forecast the supply of external job candidates (choose all the answers that apply).

- government reports - business publications - periodic monitoring of general economic conditions

In a turbulent environment, an HR plan that is most appropriate is one in which the firm (choose all the answers that apply)?

- identify business needs - forecast HR demand and HR supply - match HR demand with HR supply - Evaluate, revise & refocus HR plan to ensure that business needs are met

In examining a firm's external environment in terms of ___, we are assessing how many different elements in the environment affect the firm.

Complexity

[T/F] Scenario planning enables a firm to forecast the demand for its human resources by looking at its own historical records of retention and turnover of each position and linking it to HR demands in similar jobs.

False - this describes a Markov analysis

[T/F] Markov analysis enables a firm to analyze its HR needs based on worse-case, best-case, and most-likely projections of its environment.

False - this describes scenario planning

___ enables a firm to statistically forecast its demand for human resources by looking at its historical records of company size.

Scatter plots

___ is planning for top management turnover.

Succession planning

[T/F] A firm's HRIS enables it to determine decisions regarding employee transfers.

True

[T/F] Benchmarking enables a firm to forecast its demand for human resources by comparing it with the HR levels of firms that are similar to it.

True

[T/F] HR planning enables managers to proactively identify HR constraints when considering business opportunities.

True

[T/F] HR planning in a stable environment involves matching the projected employee turnover rates with replacement needs using the company's historical records.

True