Human Resource Planning and Forecasting

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What is the primary purpose of forecasting in human resource planning?

To increase organizational efficiency

To predict the company's future human resource needs (correct)

To improve the strengths of the HR team

To avoid surpluses or shortages of people

What is essential for managers to do regularly as part of their strategic planning activity?

Focusing on the core competencies of the firm

Predicting the demand for labor

Predicting the supply of labor

Conducting a forecast of labor needs (correct)

Why is predicting a firm's demand for employees essential?

To increase profitability

To indicate a company's progress (correct)

To develop HR competencies

To improve organizational efficiency

What is the primary objective of human resource planning?

To improve organizational effectiveness Signup and view all the answers

What is the outcome of a thorough study of the strengths and deficiencies of the HR team?

Avoiding surpluses or shortages of people Signup and view all the answers

What are the three major considerations in human resource planning?

Predicting demand, supply, and reconciling the gap between demand and supply of labor Signup and view all the answers

What is the primary purpose of conducting a skills inventory each year?

To approximate the need for manpower for existing positions Signup and view all the answers

What is the gap between demand and supply of human resources used to determine?

The possible increase or decrease in human resources Signup and view all the answers

What is a factor that affects human resource planning according to the company's structure?

Structural design of the company Signup and view all the answers

What is the consequence of having an oversupply of personnel?

The need to downsize Signup and view all the answers

What is the purpose of determining the number of employees currently needed?

To study the gap between demand and supply Signup and view all the answers

What is a source of supply of human resources?

All of the above Signup and view all the answers

What is the primary objective of linking human resource planning with strategic planning?

To ensure HR activities are considered prior to formulating the corporate plan Signup and view all the answers

What is the first step in the human resource planning process?

Understand the organizational mission, goals, objectives, and strategic requirements Signup and view all the answers

What is human resource planning also defined as?

An HR undertaking that ascertains the company's present and subsequent HR needs Signup and view all the answers

What is the relationship between human resource planning and strategic planning?

Human resource planning serves as a link between human resource management and the entire strategic plan of the organization Signup and view all the answers

What is the purpose of forecasting HR demand and supply?

To identify the present and subsequent HR needs of the company Signup and view all the answers

What is the outcome of effective human resource planning?

Ensuring HR activities are considered prior to formulating the corporate plan Signup and view all the answers