Exam 5: Forecasting and Planning

Hiring yield refers to:

Forecasting labor demand in small- and medium-size organizations is significantly easier compared to large organizations because there is a stronger correlation between employee count and productivity.

________ involves looking at past employment patterns and using those patterns to predict a firm's future labor needs.

Transition analysis is a qualitative technique.

Identify the primary limitation of all forecasting techniques.

Typically,when interest rates rise,

Which of the following is a way in which companies usually deal with temporary employee surpluses?

Which of the following is true of transition analysis?

Which of the following events suggests that a home improvement store such as Home Depot or Lowe's will need fewer workers in the next 1-3 years?

Why is it usually best to supplement the ratio,scatter plot,and trend forecasting methods with managerial judgment?

For a specific organization,the turnover rate is a constant.

What are talent inventories and replacement charts,and how are they used in forecasting labor supply?

Higher staffing efficiency percentages reflect greater staffing efficiency.

A transition analysis can account for multiple moves.

Describe the five steps in the workforce planning process.

The most comprehensive source of free data on conditions in the U.S.labor market is the U.S.Bureau of Labor Statistics (BLS).

If 4 out of 5 job offers are typically accepted,a company will have to make 120 offers so as to hire 80 employees.

If new competitors enter an industry,customers will have greater product choices,which will tend to dilute the demand for any one company's products or services.

Which of the following is the first step in the typical workforce planning process?

Business process outsourcing is the relocation of an entire business function,such as production,manufacturing,or customer service,to an independent service provider in the same or a different country.