Human Resource Management - Chapter 5: Human Resource Planning and Recruitment

Flashcards covering key concepts and vocabulary related to human resource planning and recruitment.

Labor Demand

The need for employees in an organization, forecasted based on business activities.

Labor Supply

The availability of workers with the necessary skills to fill job openings.

Downsizing

The planned elimination of large numbers of personnel to enhance organizational competitiveness.

Forecasting

The process of predicting labor supply and demand to identify potential surpluses or shortages.

Goal Setting and Strategic Planning

The stage where specific objectives are established to address labor challenges and align with business strategy.

Negative Effects of Downsizing

May include disrupted social networks, loss of talent, and risk-averse behavior among remaining employees.

Early Retirement Programs

Programs designed to encourage older employees to retire early, often due to changing workforce demographics.

Recruitment Sources

Channels through which organizations attract potential job candidates, including internal and external sources.

Program Evaluation

The assessment of recruitment initiatives to measure effectiveness in achieving desired hiring results.

Realistic Job Previews

Informational techniques to give candidates an honest view of what a job entails, improving job satisfaction and retention.