Download Workforce Planning: Terms and Concepts in Human Resource Management and more Quizzes Introduction to Business Management in PDF only on Docsity! TERM 1 Workforce Planning DEFINITION 1 predicting future employment and availability of current and external hires to meet needs and execute strategy TERM 2 Forecasting Activity DEFINITION 2 product demand affects need for labor Seasonal, interest rate, currency exchange, competitors, industry, economic TERM 3 Forecasting needs DEFINITION 3 Achieve staffing levels for generating amount of revenue within a period of time Increase staffing to execute growth or decrease using restructuring Obtain new talents for new products or services TERM 4 Ratio analysis DEFINITION 4 fixed ratio between number of employees needed and certain business metrics TERM 5 Forecasting supply DEFINITION 5 combine current staffing levels with anticipated gains and losses to estimate supply of labor for a target position at some time TERM 6 Transition analysis DEFINITION 6 technique to analyze internal labor markets and forecast internal labor supply Predicts liklihood of promotions, number likely to still be employed best performed with limited number of jobs at a time TERM 7 Other forecasting methods DEFINITION 7 skills/talent inventories: summarize skills, competencies, qualifications replacement charts: shows possible successors & their performance, promotion readiness and development needs employee surveys: identify potential for increased turnover TERM 8 Forecasting external supply DEFINITION 8 through own observations or through labor market statistics by others TERM 9 Questions: How many should we recruit? DEFINITION 9 Staffing yields: proportions of applicants moving from one stage to the next in hiring process Hiring yields: percent of applicants hired TERM 10 Questions: What resources do we need? DEFINITION 10 Workload-driven forecasting: avg # hired per recruiter staffing efficiency driven forecasting: cost associated with total compensation being hired TERM 21 Geographic targeting DEFINITION 21 sourcing recruits based on where they live TERM 22 Recruiting DEFINITION 22 activities that convert leads generated through sourcing into job applicants, generate interest in a company and persuade candidates to accept job offers TERM 23 Application reactions DEFINITION 23 Goal: every applicant have a positive feeling about organization TERM 24 Fairness: Distributive DEFINITION 24 did you get the job or promotion? TERM 25 Fairness: procedural DEFINITION 25 policies and procedures were fair, respected privacy, avoided delays, used job-related assessments, fair opportunity to perform TERM 26 Fairness: interactional DEFINITION 26 interpersonal treatment was fair and amount of info given fair honesty, respect, recruiter warmth, informativeness TERM 27 Spillover effect DEFINITION 27 extend beyond activity itself TERM 28 Factors influencing recruiter effectiveness DEFINITION 28 organization & job characteristics, hiring managers, coworkers, labor market TERM 29 Signaling DEFINITION 29 relying on recruiter traits and behaviors as signals of aspect of the company and job opportunity TERM 30 Organizational image DEFINITION 30 general impression based on feelings and fact TERM 31 employer image DEFINITION 31 attitudes toward and perception of organization as an employer TERM 32 realistic job preview DEFINITION 32 positive and potentially negative information about job
