HR Chapter 5 Studying Notes

Flashcards by Bryner, updated more than 1 year ago
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Human Resources Management in Canada

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What is Human Resources Planning HRP? The process of forecasting the future human resources requirements to ensure that the organization will have required number of employees with the necessary skills to meet its strategic objectives.
What is the difference between Skills Inventories and Management Inventories? Skills Inventories: contain information about the capabilities of current employees such as name, age, date of employment, current position duties, responsibilities, background, previous work experience, etc. Management Inventories: Records of background, qualifications, interests, and skills of management employees.
What are Succession Plans? Succession planning refers to the plans a company makes to fill its most important executive positions.
What are the 4 Quantitative Approaches in HRP forecasting? - Trend Analysis - Ratio Analysis - The Scatter Plot -Regression Analysis
What are the 2 Qualitative Approaches in HRP forecasting and how are they different? Nominal Group Technique & Delphi Technique. The Nominal involves a group of experts (such as first-line supervisor and managers) meeting face to face. Delphi typically involves outside experts, "not" face to face.
What is a Labour Surplus and what are possible solutions? Labour Surplus is when the internal supply of employees exceeds the an organization's demand. Most employers respond initially with the following solutions: -Hiring Freeze - Attrition - Layoffs - Early retirement buyout programs - Job Sharing - Termination -Leave of absence
What is Survivor Syndrome? A range of negative emotions experienced by employees remaining after a mayor restructuring initiative, which can include feelings of betrayal or violation, guilt, or detachment, and can result in stress symptoms including depression, increased errors and reduce performance.
What is a Golden Parachute? Executives may be protected by a "golden parachute clause" in their contract of employment, which is guarantee by the employer to pay specified compensation and benefits in the case of termination because of downsizing or restructuring.
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