Exam 5: Determining HR Demand

HR budgets are used to forecast quantitative,operational,or short-run demand estimates that contain the number and types of jobs required by the organization as a whole and for each subunit,division,or department.

What is envelope/scenario forecasting? Describe some of its features.

Refer to Scenario: Canadian Engineering Shortages.Of the following options,what would be the most effective strategy to deal with the engineering shortages?

What forecasting method is the most commonly used qualitative method for gathering human resource demand information?

HR forecasters uses various qualitative forecasting methods.What qualitative technique is used to imagine future possible organizational states and the resulting capabilities,activities,or strategies that are necessary to be successful in those future states?

Refer to Scenario: Canadian Engineering Shortages.The situation described in this scenario can be referred to as a tight labour market.What occurs in a tight labour market?

Understanding the demand for human resources begins with the firm's strategy and flows from the value-generating activities of the firm.

In the Delphi method experts do not meet,but they do in the nominal group technique.

In an structural equation modelling,current trends are analyzed by a panel of experts to predict future HR demand.

Refer to Scenario: Canadian Engineering Shortages.Indicators suggest that the demand for engineering occupations currently exceeds supply at the provincial and national levels.What is this estimate of demand and supply called?

Studies have shown that nominal group technique is especially effective for brainstorming sessions to ensure all participants have an equal voice in the sessions and when a problem stems from several widely diverse causes.

As the volume and complexity of forecasting data increases and forecasting uncertainty becomes very high,which forecasting models would be preferable?

Simulation can simultaneously model demand and supply and is very useful for testing the impact of assumptions on the outcome of the model.

Organizations interact with their constantly changing environments.Which of the following is an environment factor that aids HR forecasters in predicting the demand for a particular job?

What is the most common operational index used by organizations in a ratio analysis?

Describe how you would use a simulation in forecasting HR demand.Describe two benefits of using simulation in forecasting demand and supply.

In a simple regression equation,there is an assumption of linearity between the independent and dependent variables.

There are two main factors that determine whether a quantitative model or qualitative model is a better choice.Which of the following is one of these factors?