Exam 4: The HR Forecasting Process

Effective HR forecasting relies on obtaining a fine balance between global and local control of the process.

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

Worksharing is a provincial government program that aims to help organizations mitigate temporary layoffs through a redistribution of work,earnings,and leisure time.

HR shortage = HR demand > HR internal supply.

​Turtle Tanks Inc. Turtle Tanks Inc.designs and manufactures spherical-shaped septic tanks that,unlike rectangular tanks,are not buoyant when buried in land and that stay put in high water tables.There is increased demand for them at resort and recreational properties,particularly lakeshore properties across Canada where buildings cannot be hooked up to municipal sewer systems.Among the many benefits of this product is that it meets high environmental standards and has recently won several "green product" awards.The company's main office and manufacturing plant is located in Kelowna,B.C. ,but over the past two years,the company has expanded.It now has service offices in all provinces and one manufacturing plant in Winnipeg,Manitoba.As a result of the company's continued major expansion,it anticipates that the required number of employees for locations outside B.C.will increase by 20 percent this year and that the need for local Kelowna employees will decrease by 10 percent.Turtle Tanks Inc.currently has 85 full-time employees.The Kelowna operations began the year with three extra senior civil construction engineers and five extra construction labourers.The growth in demand for construction engineers has been strong due to the economic developments in Turtle Tanks Inc.'s external environment and the scarcity of competitors.The plant in Winnipeg,Manitoba,began the year short of two senior civil construction engineers,four concrete finishers,and two entry-level office administration positions.The Kelowna office manager,who oversees all the offices across Canada,has recently decided to take early retirement.The owner also hopes to retire within the next few years but has no plans concerning who will take over the company.The HR manager,based in Kelowna,is very busy developing staffing policies and processes to guide and support this expansion.She has developed job descriptions to ascertain if job candidates possess the required knowledge,skills,and abilities to perform their jobs.She has also developed behavioural-based interview questions that can ascertain whether a job applicant will fit into the corporate culture of green sustainable practices of "people and the environment" and the key corporate values of "quality,environmental responsibility,and integrity." What human resource forecasting approach is Turtle Tanks Inc.using?

Models used in HR forecasting typically fall into one of three categories.What do cause-and-effect models assume?

How can organizations reduce their HR costs?

With reference to HR forecasting,how is the envelope analogy used?

Which of the following is used by companies to minimize the negative impact on individuals during downsizing?

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

Forecasting activity for HR planning can be subdivided into two categories: transaction-based and event-based.

HR surplus = HR demand < HR internal supply.

Which of the following is NOT a source of external HR supply for an organization?

Which of the following is NOT a categorization of forecasting models according to the textbook?

What is the external HR supply,given that the organization has a workforce of 500,its historical annual replacement/loss rate is 7 percent,and its corporate downsizing policy will reduce staffing levels by 10 percent? Round to the nearest whole number.

Forecasting is an accurate reflection of future states and is an activity that strongly favours quantitative and easily codified techniques.