MGMT 361 - Exam 2

Human Resource Mgmt Exam 2 - Chapters: 5,6,7, & 8

Forecasting

attempts to determine supply and demand for various types of HR to predict areas within the organization where there will be labor shortages or surpluses.

Forecasting Steps

• 1. Forecast labor demand

  • Determine labor supply

• 2. Determine labor surplus or shortage

Trend Analysis

Constructing and applying statistical models that predict labor demand for next year, given relatively objective statistics from previous year.

Leading Indicators

Objective measures that accurately predict future labor demand.

Transitional Matrix

A chart that lists job categories held in one period and shows proportion of employees in each of those job categories in a future period.

Implementing and Evaluating the HR Plan

• Someone must be accountable for achieving goals.

  • Should have authority and resources needed.

  • Should issue regular progress reports.

• Talent management ties planning and recruiting efforts to organization’s strategy and employee development.

• Evaluation should identify which parts of planning process contributed to success or failure.

Recruiting

Any activity carried on by the organization with the primary purpose of identifying and attracting potential employees

Employment-At-Will

Employment principle that if there is no specific employment contract saying otherwise, the employer or employee may end an employment relationship at any time, regardless of cause.

Yield Ratios

A ratio that expresses percentage of applicants who successfully move from one stage of the recruitment and selection process to the next.

Cost Per Hire

• Find cost of using a particular recruitment source for a particular type of vacancy.

• Divide that cost by number of people hired to fill that type of vacancy.

• A low cost per hire means the recruitment source is efficient.

Personnel Selection

Process through which organizations make decisions about who will or will not be allowed to join the organization.

Reliability

Extent to which a measurement is free from random error.

Validity

Extent to which performance on a measure (such as a test score) is related to what the measure is designed to assess (such as job performance).

Concurrent Validity

A type of validity used to measure the accuracy of a test or assessment in the HR world.

Content Validity

Reflects how well a test is measuring a quality or skill that is related to a certain job.

Construct Validity

Focuses on how an assessment relates to theoretical constructs like situational judgment, mechanical aptitude, and general intelligence when evaluating candidates.

Correlation Coefficient

A number ranging from 0.00, denoting a complete absence of relationship, to 1.00 and to -1.00, indicating a perfect positive and perfect negative relationship, respectively.

Training

An organization’s planned efforts to help employees acquire job-related knowledge, skills, abilities, and behaviors, with the goal of applying these on the job.

Instructional Design

A process of systematically developing training to meet specified needs

Needs Assessment

Process of evaluating the organization, individual employees, and employees’ tasks to determine what kinds of training, if any, are necessary.

Readiness for Training

A combination of employee characteristics and positive work environment that permit training.

Orientation

Training designed to prepare employees to perform their jobs effectively, learn about their organization, and establish work relationships.

Onboarding

Ongoing process that aims to prepare new employees for full participation.

Employee Development

Combination of formal education, job experiences, relationships, and assessment of personality and abilities to help employees prepare for the future of their careers.

Protean Career

A career that frequently changes based on changes in the person’s interests, abilities, and values and in the work environment.

Assessment

Collecting information and providing feedback to employees about their behavior, communication style, or skills.

MBTI

Psychological test that identifies individuals’ preferences for source of energy, means of information gathering, way of decision making, and lifestyle, providing information for team building and leadership development.

Assessment Centers

Identify whether employees have the personality characteristics, administrative skills, and interpersonal skills for managerial jobs or for working in teams.

Succession Planning

The process of identifying and tracking high-potential employees who will be able to fill key positions when they become vacant.