Individual Level Forecasts: Markov Analysis Talent Supply

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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?

The difference between expected demand and expected supply of talent Signup and view all the answers

What is the primary focus of Job Analysis in organizations?

Determining skills, knowledge, and duties associated with job performance 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?

Employee Training and Development Signup and view all the answers

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

Regression analysis Signup and view all the answers

Which approach in forecasting talent demand involves starting from scratch?

Zero-Based approach Signup and view all the answers

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

Revenue per employee Signup and view all the answers

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

Calculating employee turnover Signup and view all the answers

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

Forecasting Talent Demand Signup and view all the answers

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

"Futuring" approach Signup and view all the answers

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

Job analysis 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?

Equal Pay Act Signup and view all the answers

Where can organizations find job descriptions according to the text?

On their own websites and industry association websites Signup and view all the answers

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

Both job requirements and descriptions Signup and view all the answers

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

Job analysis Signup and view all the answers

What does the Civil Rights Act provide adequate defenses against?

Unfair discrimination when requirements are job-related Signup and view all the answers