Deck 4: The HR Forecasting Process

Question 1

Which of the following would NOT be considered a "designated group"?

A)immigrants
B)women
C)Aboriginals
D)disabled people

Answer 1

A

Question 2

How can organizations reduce their HR costs?

A)use contingent workers whenever possible
B)pay overtime only when necessary
C)ensure that there are more than enough employees
D)take a long-run planning approach to HR issues

Answer 2

D

Question 3

If an organization wished to conduct HR forecasting for its operating cycle,which of the following time horizons should it use?

A)current forecast
B)short-run forecast
C)medium-run forecast
D)long-run forecast

Answer 3

A

Question 4

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

A)It is a visual depiction used for HR communications.
B)It projects current HR supply and demand.
C)It sets the upper and lower boundaries for HR projections.
D)It is an estimate for a variety of HR assumptions.

Question 5

Which concept refers to the process of reducing an HR surplus by allowing the size of the workforce to decline naturally from the normal pattern of losses associated with retirements,deaths,and voluntary turnover?

A)attrition
B)hiring freeze
C)downsizing
D)HR surplus

Question 6

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

A)HR surplus
B)HR shortage
C)HR scarcity
D)HR supply

Question 7

What type of forecasting occurs in the range of two to five years?

A)current
B)short-run
C)medium-run
D)long-run

Question 8

Which of the following is a quantitative human resource forecasting method?

A)Delphi Technique
B)time series
C)Nominal Group Technique
D)focus groups

Question 9

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

A)scenario and focus group methods
B)indirect- and direct-based models
C)mathematical and econometric models
D)inverse- and regression-based models

Question 10

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

A)a basic pattern that flows from a micro perspective to a macro perspective
B)a macro perspective that takes into account general trends in society and the economy
C)a basic pattern that flows from a macro perspective to a micro perspective
D)a micro-level perspective that focuses more directly on challenges that are specific to the organization

Question 11

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

A)projection
B)prediction
C)predetermination
D)presumption

Question 12

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

A)norm-based rules
B)indirect-based models
C)null-based models
D)inverse-based models

Question 13

What type of forecasting method is concerned with existing assumptions based on historical data to create ratios of production or sales amounts to human capital needs?

A)process-based rules
B)event-based rules
C)norm-based rules
D)transaction-based rules

Question 14

What type of human capital is valuable to the firm and cannot be easily transferred across organizations?

A)firm-specific human capital
B)technical human capital
C)generic human capital
D)financial human capital

Question 15

What type of human capital represents the kind of knowledge that employees have that benefits the firm,and that requires a deep understanding of the firm's systems,social structure,or customers?

A)generic human capital
B)financial human capital
C)technical human capital
D)firm-specific human capital

Question 16

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

A)communication
B)leadership
C)planning
D)forecasting

Question 17

If an organization does not incorporate information from the external environment,what impact will this have on HR forecasting?

A)lack of specificity in HR forecasting from top management
B)elimination of personnel policies that are irrelevant to competitors
C)incompatibility between organizational goals and HR planning
D)avoidance of producing environmental scans with organizational input

Question 18

Which of the following is a qualitative human resource forecasting method?

A)time series
B)Delphi technique
C)regression-based
D)transaction-based

Question 19

What type of forecasting occurs in the range of one to two years?

A)current
B)short-run
C)medium-run
D)rapid-run

Question 20

What type of human resource forecasting model is based on human judgment?

A)qualitative
B)quantitative
C)econometric
D)time series

Question 21

A number of skills must be brought together to ensure that effective HR planning can take place.Which one of the following skills has NOT been proposed as critical to the HR planning function?

A)communication skills
B)quantitative skills
C)qualitative skills
D)process management skills

Question 22

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

A)contingency plans
B)predictions
C)projections
D)scenarios

Question 23

Why are some individuals categorized into designated groups?

A)because they are exceptionally skilled and need challenges
B)because of their fragile emotional states
C)because they require special attention
D)because they need to be protected from discrimination

Question 24

Which of the following is an external factor that affects HR forecasting?

A)managerial appraisals
B)competitor's HR policies
C)executive career planning
D)training and development

Question 25

The Conference Board of Canada found that organizations reported three important long-term HR priorities.What are these priorities?

A)leadership development,workforce planning,and succession management
B)employee engagement,aging workforce,and workforce planning
C)capacity to innovate,labour cost containment,and succession management
D)capacity to innovate,respond to rapid change,and contain labour costs

Question 26

What HR term 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?

A)HR projection
B)HR prediction
C)HR forecasting
D)HR gap analysis

Question 27

In a survey of over 150 Canadian firms the Conference Board of Canada found that organizations reported three important long-term HR priorities.What are these priorities?

A)labour cost containment,employee engagement,and workforce planning
B)leadership development,workforce planning,and succession management
C)respond to rapid change,contain labour costs,and aging workforce
D)changing nature of work,planning management succession,and developing leaders

Question 28

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

A)flextime
B)job sharing
C)laying off employees equitably based on performance
D)outsourcing

Question 29

What is the first step taken in an effective HR forecasting process?

A)determining internal and external supply of labour
B)identifying the gap between demand and supply
C)determine staffing needs by skills,skill levels,or jobs
D)determine demand requirements and develop a plan to address future needs

Question 30

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?

A)technical skills
B)quantitative skills
C)qualitative skills
D)econometric skills

Question 31

How many years are typically used for a Moderate-run HR forecast?

A)1 to 2 years
B)2 to 3 years
C)2 to 5 years
D)5 to 10 years

Question 32

A number of skills must be brought together to ensure that effective HR planning can take place.Which one of the following skills has been proposed as critical to the HR planning function?

A)communication skills
B)leadership skills
C)innovation skills
D)time management skills

Question 33

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

A)workers representative of designated groups
B)workers with creative abilities
C)workers with social skills
D)workers with communication skills

Question 34

HR forecasters must pay particular attention to monitoring which of the following human capital?

A)workers with administrative skills
B)workers holding qualifications that are in high demand
C)workers with financial skills
D)workers with communication skills

Question 35

Firm strategy and environmental scanning are important steps in determining the kinds of activities and behaviours that are critical to organizational success.What HR process helps to determine how the knowledge,skills,abilities,and competencies that are necessary to demonstrate the required activities and behaviours are acquired by the firm?

A)career development and mentoring
B)training and development
C)internal and external selection
D)organization design

Question 36

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

A)comprehend the impact of organizational variables
B)understand HR policy and program implications
C)environmental scanning
D)institute effective HR forecasting policies and procedures

Question 37

Which of the following is NOT a key area of focus for HR forecasting?

A)specialist workers
B)designated group members
C)financial planners
D)leadership talent

Question 38

Which of the following is NOT related to attrition?

A)retirements
B)voluntary turnover
C)terminations
D)deaths

Question 39

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

A)that there is an ongoing relationship between independent and dependent variables
B)that the extrapolated trends will most influence future supply and demand
C)that the time horizon used for the models is most conducive to short-term forecasts
D)that the subjective judgment of experts supports the forecasts

Question 40

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

A)envelope
B)prediction
C)forecasting targets
D)projection

Question 41

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?

A)HR projection
B)HR surplus
C)KSAOs
D)HR gap

Question 42

What type of human capital represents a potential source of competitive advantage from human capital?

A)generic human capital
B)financial human capital
C)firm-specific human capital
D)technical human capital

Question 43

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?

A)human capital stocks
B)firm-specific human capital
C)human capital flows
D)generic human capital

Question 44

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

A)the evaluation of human capital requirements for current time horizons
B)the evaluation of human capital requirements for future time horizons
C)the determination of the source of human capital
D)the availability of generic human capital

Question 45

What type of human capital represents the skills that employees have based on their tacit knowledge and learned from experience in the organization?

A)generic human capital
B)firm-specific human capital
C)labour market human capital
D)manufactured human capital

Question 46

Human resource forecasting tools that assess human capital requirements based on historical measures such as sales levels are focused on which of the following?

A)human capital stocks
B)human capital flows
C)generic human capital
D)firm-specific human capital

Question 47

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?

A)generic human capital
B)firm-specific human capital
C)human capital stock
D)human capital flow

Question 48

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

A)firm-specific human capital
B)generic human capital
C)social human capital
D)natural human capital

Question 49

A data entry clerk uses their knowledge of the processes and people involved in making a change to a data entry screen to cut the time required to implement the change from one week to one day.What type of human capital is this an example of?

A)generic human capital
B)human capital stock
C)human capital flow
D)firm-specific human capital

Question 50

What are the knowledge,skills,abilities,and other characteristics necessary for a person to perform well in a job derived from?

A)job description
B)job evaluation
C)job analysis
D)job specifications

Question 51

What type of human capital represents the types of skills that are of equal value to most any company and can be priced in the labour market?

A)firm-specific human capital
B)generic human capital
C)manufactured human capital
D)natural human capital

Question 52

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

A)the determination the source of human capital
B)the availability of internal supply of workers
C)the calculation of organizational requirements
D)the availability of external supply of workers

Question 53

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

A)technical human capital
B)natural human capital
C)generic human capital
D)firm-specific human capital

Question 54

Human capital theory suggests that it takes time for investments in human capital to produce financial or productivity-based returns to an organization.What is the reason for this?

A)Firm-specific human capital takes time to develop into generic human capital.
B)Specialized human capital takes time to develop into generic human capital.
C)Generic human capital takes time to develop into firm-specific human capital.
D)Generic human capital takes time to develop into specialized human capital.

Question 55

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?

A)human capital stock
B)human capital flow
C)generic human capital
D)firm-specific human capital

Question 56

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?

A)projection
B)prediction
C)HR surplus
D)HR gap

Question 57

There are a number of advantages of HR forecasting for organizations.Which of the following is one advantage of HR forecasting?

A)increasing organizational flexibility
B)alignment of HR strategies
C)improved organizational innovation
D)alignment of HR processes

Question 58

What is another term used for the knowledge,skills,abilities,and other characteristics (KSAOs)that are necessary for a person to perform well in their job?

A)job specifications
B)job analysis
C)job description
D)job design

Question 59

What HR concept is defined as the amount of any specific form of human capital that is available to the firm at any given time?

A)human capital flow
B)generic human capital
C)human capital stock
D)firm-specific human capital

Question 60

There are a number of advantages of HR forecasting for organizations.Which of the following is one advantage of HR forecasting?

A)improved organizational strategy
B)improved employees skills,knowledge,and abilities
C)reduced HR costs
D)alignment of human capital

Question 61

A proposed sequence of events with its own set of assumptions and associated program details is known as contingency planning.

Question 62

HR forecasting is more reactive than proactive.

Question 63

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

Question 64

A serious problem develops in some organizations when the personnel planning process becomes connected to the overall business goals of the organization.

Question 65

HR demand requirements must be found from either internal or external supplies of personnel.

Question 66

Refer to Scenario: Turtle Tanks Inc.Turtle Tanks Inc.has shortages of human capital such that the company is unable to meet its current or forecasted human capital requirements.What is this situation called?

A)projection
B)prediction
C)HR surplus
D)HR gap

Question 67

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.

Question 68

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

Question 69

Forecasting in terms of two to five years represents a short-run forecast.

Question 70

Refer to Scenario: Turtle Tanks Inc.HR forecasting process in a sequence of steps.What is the first step Turtle Tanks Inc.would take in the HR forecasting process?

A)the determination the source of human capital
B)the calculation of organizational requirements
C)the availability of internal supply of workers
D)the availability of external supply of workers

Question 71

Effective HR forecasting focuses on a comparison between an organization's current stock of workforce knowledge,skills,and abilities and the numbers and skill competencies desired in the workforce in the future.

Question 72

Refer to Scenario: "Turtle Tanks Inc.What would be the second step Turtle Tanks Inc.would take in the HR forecasting process?

A)to evaluate its human capital requirements for its current time horizons
B)to determine its sources of human capital
C)to evaluate its human capital requirements for its future time horizons
D)to determine the availability of generic human capital

Question 73

Refer to Scenario: Turtle Tanks Inc.What type of human capital is a potential source of competitive advantage for Turtle Tanks Inc.?

A)generic human capital
B)financial human capital
C)firm-specific human capital
D)technical human capital

Question 74

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

A)improved organizational strategy
B)improved employee skills,knowledge,and abilities
C)reduced HR costs
D)alignment of human capital

Question 75

Refer to Scenario: Turtle Tanks Inc.The HR Manager at Turtle Tanks Inc.would be paying particular attention to which of the following human capital?

A)workers with administrative skills
B)workers with financial skills
C)workers with communication skills
D)workers holding qualifications that are in high demand

Question 76

A projection incorporates several HR estimates based on few assumptions.

Question 77

What HR concept is defined as the change in the stock of human capital over time such as terminations,promotions,lateral movements,and demotions?

A)firm-specific human capital
B)human capital flow
C)human capital stock
D)generic human capital

Question 78

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

Question 79

In reference to HR forecasting,contingency plans are implemented when severe,unanticipated changes to organizational or environmental factors completely negate the usefulness of the existing HR forecasting predictions or projections.

Question 80

HR supply is defined as the organization's projected requirement for human resources.