Exam 4: The HR Forecasting Process

Firm-specific human capital takes time to develop into generic human capital.

What HR concept is defined as a shortage of human capital such that the organization is unable to meet its current or forecasted human capital requirements?

Most Canadian organizations today tend to plan for their workforce based on the firm's immediate needs or gaps between human capital demand and supply.

The competencies,knowledge,skills,and abilities that are held by individual employees and that are useful to the firm are referred to as generic human capital.

Which of the following best describes the human resource forecasting process?

What is created when the HR demand exceeds the current personnel resources available in the organization's workforce?

Particular attention must be paid to monitoring members of designated groups with respect to organizational opportunities.

HR forecasting process in a sequence of steps.What is the first step in the HR forecasting process?

Since it takes human capital to develop human capital,HR forecasting must take into account both the stock and flow of human capital.

A projection is a single numerical estimate of HR requirements associated with a specific time horizon and set of assumptions.

Which of the following is an important step that HR would want to take before forecasting human resources?

In regards to HR forecasting,greater attention must be paid to identifying with of the following human resources?

Human capital theory suggests that it takes time for investments in human capital to produce financial or productivity-based returns to the firm.Discuss the reasons for this,providing examples.?or?Human capital theory suggests that it takes time for investments in human capital to produce financial or productivity-based returns to the firm and that human capital generally comes to the firm in the form of generic human capital,which over time develops into firm-specific human capital.Define and provide an example of generic human capital and firm-specific human capital.

Refer to Scenario: Turtle Tanks Inc.Which of the following is one advantage of HR forecasting for Turtle Tanks Inc.?

HR forecasting process in a sequence of steps.What follows the HR forecasting calculations concerning the demand for human resources?

Male university graduates who are disabled would constitute a "designated group" with respect to hiring in Canada.

Which of the following is a critical skill to the HR planning function?

HR forecasting will determine the supply of human resources but not the demand.

HR forecasting is defined as the process of ascertaining the net requirement for human capital by determining the demand for and supply of human resources now and in the future.

Workforce planning practices in most Canadian organizations today focus on questions that relate to the business strategy and how the firm's human capital needs flow from the strategy.