Exam 5: Forecasting and Planning

Which term refers to the proportion of applicants moving from one stage of the hiring process to the next?

A retail store that forecasts a greater need for salespeople during Thanksgiving.This is an example of a seasonal forecast.

Early retirement programs are a common way of dealing with temporary employee surpluses.

After the gaps between the firm's labor supply and labor demand are identified,a firm should:

If the proportion of high-potential applicants increases,the total number of applicants needed to generate the right number of the right quality of new hires decreases.

ROM Corporation had kept all its hiring plans on hold during the last four quarters because the economy was in a state of recession.ROM manufactures data cards,memory chips,and LCD monitors.The company is analyzing market trends in order to reassess its hiring strategy for the coming year.Which of the following,if true,would most support the argument for restarting hiring?

Talent inventories are detailed records or databases that summarize each employee's skills,competencies,education,training,previous performance reviews,and chances of being promoted.

How can competitor forecasts influence a firm's forecast of its own future business activity?

Which of the following visually shows each of the possible successors for a job and summarizes their strengths,present performance,promotion readiness,and development needs?

Scatter plots show graphically how two different variables are related.