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 (C)</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 (B)</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 (B)</p> Signup and view all the answers

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

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

Which approach in forecasting talent demand involves starting from scratch?

<p>Zero-Based approach (C)</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 (A)</p> Signup and view all the answers

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

<p>Calculating employee turnover (C)</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 (C)</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 (D)</p> Signup and view all the answers

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

<p>Job analysis (D)</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 (A)</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 (D)</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 (A)</p> Signup and view all the answers

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

<p>Job analysis (C)</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 (A)</p> Signup and view all the answers

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