Individual Level Forecasts: Markov Analysis Talent Supply
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Questions and Answers

What is the formula to calculate talent supply at an individual level?

  • Current staffing levels - Projected losses - Anticipated gains
  • Current staffing levels - Projected losses + Anticipated gains (correct)
  • Current staffing levels + Projected losses - Anticipated gains
  • Current staffing levels + Projected losses + Anticipated gains
  • Which of the following is NOT included in the calculation of talent supply at an individual level?

  • Retirements
  • Promotions
  • External hires (correct)
  • Demotions
  • In the context of Human Resource Planning Gap Analysis, what does a positive number for Talent Shortage indicate?

  • A surplus of talent
  • A shortage of talent (correct)
  • No impact on talent availability
  • An ideal situation
  • What does the formula 'Gap = Forecast demand - Forecast supply' represent in human resource planning?

    <p>The difference between expected demand and expected supply of talent</p> Signup and view all the answers

    What is the primary focus of Job Analysis in organizations?

    <p>Determining skills, knowledge, and duties associated with job performance</p> Signup and view all the answers

    Which of the following is NOT one of the Staffing Alternatives to Deal With Talent Surpluses mentioned in the text?

    <p>Employee Training and Development</p> Signup and view all the answers

    What is one of the statistical techniques used in forecasting talent demand?

    <p>Regression analysis</p> Signup and view all the answers

    Which approach in forecasting talent demand involves starting from scratch?

    <p>Zero-Based approach</p> Signup and view all the answers

    In ratio analysis for forecasting talent demand, what is a typical business metric used?

    <p>Revenue per employee</p> Signup and view all the answers

    Markov Analysis is used for what purpose in Human Resource Planning?

    <p>Calculating employee turnover</p> Signup and view all the answers

    Which element of Human Resource Planning involves determining the number of employees needed based on skills and location?

    <p>Forecasting Talent Demand</p> Signup and view all the answers

    What type of technique is used when forecasting talent demand requires subjective judgement rather than data analysis?

    <p>&quot;Futuring&quot; approach</p> Signup and view all the answers

    What is the basis for workforce planning according to the text?

    <p>Job analysis</p> Signup and view all the answers

    Which act requires that similar pay must be provided to women if jobs are not substantially different as shown in job descriptions?

    <p>Equal Pay Act</p> Signup and view all the answers

    Where can organizations find job descriptions according to the text?

    <p>On their own websites and industry association websites</p> Signup and view all the answers

    What type of information does the Occupational Information Network (O*NET) provide?

    <p>Both job requirements and descriptions</p> Signup and view all the answers

    Which characteristic serves as the basis for career development according to the text?

    <p>Job analysis</p> Signup and view all the answers

    What does the Civil Rights Act provide adequate defenses against?

    <p>Unfair discrimination when requirements are job-related</p> Signup and view all the answers

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