Exam 4: The HR Forecasting Process

As artificial intelligence and the types of algorithms used to develop HR forecasts become more advanced what type of skill has become critical to the HR planning function?

There are a number of advantages of HR forecasting for organizations.Discuss one advantage of HR forecasting,

Identify an organization you are familiar with (such as from your work experience or from the course textbook).Describe the methods used by the organization to fill its anticipated future requirements for personnel.

Human capital stock refers to the amount of any specific form of human capital that is available to the firm at any given time.

What type of human capital is very difficult for HR forecasters to determine labour market value?

Prediction is best defined as a single numerical estimate of HR requirements associated with a specific time horizon and set of assumptions.

Firm-specific human capital comprises the competencies,knowledge,skills,and abilities that employees possess based on their tacit knowledge and that learned from experience in the organization.

The forecasting term "envelope" is synonymous with the term "projection."

What HR term is defined as a situation in which the organization has more human capital than it requires in order to meet its current or forecasted human capital requirements?

What HR concept is defined as several HR estimates based on a variety of assumptions?

What HR concept is defined as the competencies,knowledge,skills,and abilities that employees possess based on their tacit knowledge,and learned through mentorship in the organization?

Human resource forecasting methods that are dependent on succession management,and that integrate turnover rates and employee movement are more focused on which of the following?

What type of human capital represents the knowledge,skills,and abilities that are held by employees and that are useful to the firm?

The demand for and supply of workers need to be determined before the senior management team can decide on the organizational strategy and specific programs to reconcile the differences between the requirement for labour in various employment categories and its availability,both internally and in the organization's environment.

Projection refers to several HR estimates based on a variety of assumptions.

What HR concept is defined as a single numerical estimate of HR requirements associated with a specific time horizon and set of assumptions?

Which concept refers to a proposed sequence of events with its own set of assumptions and associated program details?

What HR concept is defined as the competencies,knowledge,skills,and abilities that are held by individual employees and that are useful to the firm?

Which of the following is one of the forecasting method categories?

The human resource forecasting process in general can be described as following a basic pattern that flows from a macro perspective to a micro perspective.Describe the macro- and micro-level perspectives,providing an example.