Staffing Plan and Demand Forecast Quiz

<p>Retirement Turnover</p> Signup and view all the answers

<p>To identify staffing gaps by subtracting projected demand from projected supply</p> Signup and view all the answers

<p>Retention</p> Signup and view all the answers

<p>It includes independent contractors, temporary employees, on-call workers, and part-time employees</p> Signup and view all the answers

<p>Robust processes for onboarding, offboarding, and ongoing management</p> Signup and view all the answers

<p>Through the use of technology such as talent management systems and analytics tools</p> Signup and view all the answers

<p>Recruitment</p> Signup and view all the answers

<p>Evaluating critical skills needed to achieve company goals</p> Signup and view all the answers

<p>To highlight the high value contingent workers bring to the workplace</p> Signup and view all the answers

<p>Standardizing management for full-time and contingent employees</p> Signup and view all the answers

<p>To ensure finding the best candidates and hiring them at the right price</p> Signup and view all the answers

<p>By sharing exciting company news with them</p> Signup and view all the answers

<p>Coaching hiring managers on strategies to keep them engaged</p> Signup and view all the answers

<p>A Vendor Management System (VMS)</p> Signup and view all the answers

<p>By improving operational efficiencies, cost controls, compliance, and invoice controls</p> Signup and view all the answers

<p>They will lose a competitive advantage</p> Signup and view all the answers

<p>Think critically about how they will plan for, manage, engage, and integrate this complex workforce into their comprehensive talent strategy</p> Signup and view all the answers

<p>Improved talent strategy</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>Demand-side strategies = Reduce staffing needs Supply-side strategies = Fill staffing gaps Key questions for developing a contingent workforce strategy = Planning effectively, compliance with labor laws, effective communication, and managing performance and risk Elements of effective contingent workforce management = Onboarding, offboarding, ongoing management, compliance with relevant laws and regulations</p> Signup and view all the answers

<p>Contingent staffing = Grown due to shortage of critical skill sets and retirement of baby boomer generation Effective contingent workforce management = Involves managing performance and risk Contingent workforce programs enhancement = Use of technology like talent management systems and analytics tools Strategic partnerships with staffing suppliers and vendors = Create integrated workforce solutions and improve talent management effectiveness</p> Signup and view all the answers

<p>Demand forecast for staffing = Anticipated retirements Supply forecast for staffing = Internal availability, external availability, future labor supply Contingent workforce landscape = Not the Wild West; needs rules and processes in place Advantage of effectively managing contingent workforce = Gain competitive advantage</p> Signup and view all the answers

<p>Staffing Level = How many positions will be needed in ‘core’ job areas Regular Turnover = Projected turnover rate due to competition Retirement Turnover = Projected turnover rate due to anticipated retirements Knowledge and Skill Loss = Percentage of staff’s knowledge and skills becoming outdated without training or development</p> Signup and view all the answers

<p>Internal Availability = Number of employees promotable within the target timeframe External Availability = Number of people doing similar work in the target recruitment area Hired Away from Other Employers = Number of people regularly hired away from other employers Future Labor Supply = Number of people entering the qualified labor pool from schools and training programs in the target recruitment area</p> Signup and view all the answers

<p>Demand Forecast = Identifying how many staff are needed to meet deliverables, outputs, and performance measures Supply Forecast = Identifying what and how many staff will be available to meet staffing needs Gap Analysis = Subtracting projected demand from projected supply to identify staffing gaps Vendor Management System (VMS) = Helping make the contingent workforce a strategic component of an organization’s overall human capital management strategy</p> Signup and view all the answers

<p>Changing Labor Markets = One of the factors driving the loss of staff Wage Inflation Due to Competition = One of the factors driving the loss of staff Lack of Employee Engagement = One of the factors driving the loss of staff Anticipated Retirements = One of the factors driving the loss of staff</p> Signup and view all the answers

<p>Evaluating critical skills and talent gaps = Identifying workforce needs and planning for future requirements Standardizing management of contingent workers = Ensuring consistency and fairness in treatment Engaging contingent workers and integrating them into company culture = Boosting motivation and sense of belonging Utilizing technology solutions like Vendor Management System (VMS) = Improving operational efficiencies, cost controls, and compliance</p> Signup and view all the answers

<p>Educating others about the value of contingent workers = Highlighting their contribution to the workplace Building strategic partnerships with staffing suppliers and vendors = Creating integrated workforce solutions and improving talent management effectiveness Sharing company information and culture with contingent workers = Energizing and motivating the contingent workforce Implementing robust processes for onboarding, offboarding, and ongoing management = Ensuring effective contingent workforce management</p> Signup and view all the answers

<p>Vendor Management System (VMS) = Provides total visibility and manages various service categories HR technology designed exclusively for full-time talent = Inadequate for organizations with significant contingent workforce Leveraging technology solutions for contingent workforce management = Improving overall human capital management strategy Planning for, managing, engaging, and integrating the contingent workforce = Requires bolstering with appropriate technology support</p> Signup and view all the answers

<p>To identify discrepancies between the current workforce and the required workforce</p> Signup and view all the answers

<p>Improved flexibility and scalability</p> Signup and view all the answers

<p>Internal and external staff availability</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>To identify the difference between projected demand and projected supply</p> Signup and view all the answers

<p>Recruitment and workforce development</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>By implementing technology tools and analytics</p> Signup and view all the answers

<p>Improved talent management effectiveness</p> Signup and view all the answers

<p>Retirement and critical skill sets</p> Signup and view all the answers

<p>Evaluate the critical skills needed to achieve company goals</p> Signup and view all the answers

<p>Vendor Management System (VMS)</p> Signup and view all the answers

<p>Provide access to information and company culture similar to full-time employees</p> Signup and view all the answers

<p>Think critically about how to plan, manage, engage, and integrate the contingent workforce</p> Signup and view all the answers

<p>To ensure finding the best candidates, hiring them in a timely fashion and at the right price</p> Signup and view all the answers

<p>Coaching hiring managers on effective strategies to keep the workforce engaged</p> Signup and view all the answers

<p>Through the use of technology, such as Vendor Management Systems (VMS) and analytics tools</p> Signup and view all the answers

<p>They will lose a competitive advantage</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>To identify staffing gaps by subtracting projected demand from projected supply</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>Evaluating critical skills needed to achieve company goals = Determining where talent gaps are Developing a strategy to fill talent gaps with full-time and contingent labor = Educating others about the value of contingent workers Standardizing management of contingent workers = Ensuring rules and processes in place for workforce management Using technology solutions for total visibility into the specialized workforce = Planning and managing the contingent workforce effectively</p> Signup and view all the answers

<p>Projected demand = Projected supply Retirement turnover = Shortage of workers with critical skill sets Shortage of workers with critical skill sets = Retirement turnover Projected supply = Projected demand</p> Signup and view all the answers

<p>Enhanced through technology, such as talent management systems and analytics tools = Not enhanced through technology Enhanced through strategic partnerships with staffing suppliers and vendors = Not enhanced through strategic partnerships Can be enhanced through technology, such as talent management systems and analytics tools = Cannot be enhanced through technology Can be enhanced through strategic partnerships with staffing suppliers and vendors = Cannot be enhanced through strategic partnerships</p> Signup and view all the answers

<p>Retention, reorganization, work process redesign, employee performance management = Filling staffing gaps Filling staffing gaps = Recruitment, modified qualifications, workforce development, training and succession planning Recruitment, modified qualifications, workforce development, training and succession planning = Filling staffing gaps</p> Signup and view all the answers

<p>Current training and development efforts = Mitigating a percentage of core knowledge and skill loss Gap analysis = Involves subtracting projected supply from projected demand to identify staffing gaps Demand-side strategies = Include retention, reorganization, work process redesign, and employee performance management to reduce staffing needs Supply-side strategies = Include recruitment, modified qualifications, workforce development, training and development, and succession planning to fill staffing gaps</p> Signup and view all the answers

<p>Demand forecast = Identify how many staff are needed to meet deliverables, outputs, and performance measures Supply forecast = Identify internal availability, external availability, and future labor supply Contingent workforce programs can be enhanced through the use of technology = To improve workforce visibility, streamline processes, and optimize workforce utilization Key questions organizations must consider when developing a contingent workforce strategy = Planning effectively for the total workforce, complying with labor laws, ensuring effective communication, and managing performance and risk</p> Signup and view all the answers

<p>Demand-side strategies = To reduce staffing needs Supply-side strategies = To fill staffing gaps Effective contingent workforce management = Implementing robust processes for onboarding, offboarding, and ongoing management Contingent workforce programs can be enhanced through the use of technology = To improve workforce visibility, streamline processes, and optimize workforce utilization</p> Signup and view all the answers

<p>Demand Forecast = Identify how many staff are needed to meet deliverables, outputs, and performance measures Supply Forecast = Identify what and how many staff will be available to meet staffing needs Regular Turnover = Projected turnover rate due to competition External Availability = Number of people doing similar work in the target recruitment area</p> Signup and view all the answers

<p>Staffing Level = How many positions will be needed in 'core' job areas Retirement Turnover = Projected turnover rate due to anticipated retirements Knowledge and Skill Loss = Percentage of staff’s knowledge and skills becoming outdated without training or development Future Labor Supply = Number of people entering the qualified labor pool from schools and training programs in the target recruitment area</p> Signup and view all the answers

<p>Contingent workers are often added in an ad-hoc fashion, making it difficult to get the total contingent workforce picture = Relevance to understanding challenges in managing contingent workforce What technology solution is recommended for managing a significant contingent workforce? = Relevance to identifying technology needs for contingent workforce management The text suggests that organizations who fail to manage their contingent workforce will lose a competitive advantage. = Relevance to the consequence of ineffective contingent workforce management What advantage does an organization gain by effectively managing its contingent workforce? = Relevance to benefits of effective contingent workforce management</p> Signup and view all the answers

<p>True: Current training and development efforts are not mitigating core knowledge and skill loss according to the text? = Relevance to the impact of training on knowledge and skill retention in contingent workforce True: Contingent workforce programs can be enhanced through the use of technology, such as talent management systems and analytics tools, to improve workforce visibility, streamline processes, and optimize workforce utilization? = Relevance to leveraging technology for improving contingent workforce programs True: Demand-side strategies include retention, reorganization, work process redesign, and employee performance management to reduce staffing needs? = Relevance to strategies for reducing staffing needs through demand-side actions True: Gap analysis involves subtracting projected demand from projected supply to identify staffing gaps? = Relevance to the process of identifying staffing gaps through gap analysis</p> Signup and view all the answers

<p>Regular Turnover: What is the projected turnover rate due to competition.</p> Signup and view all the answers

<p>To subtract projected demand from projected supply to identify staffing gaps.</p> Signup and view all the answers

<p>Vendor Management System (VMS)</p> Signup and view all the answers

<p>To ensure compliance with labor laws</p> Signup and view all the answers

<p>Workforce development</p> Signup and view all the answers

<p>To identify staffing gaps by comparing projected supply with projected demand</p> Signup and view all the answers

<p>Robust onboarding processes</p> Signup and view all the answers

<p>Implement robust processes for onboarding and offboarding</p> Signup and view all the answers

<p>Training and development</p> Signup and view all the answers

<p>It improves workforce visibility and streamlines processes</p> Signup and view all the answers

<p>It enhances overall talent management effectiveness</p> Signup and view all the answers

<p>Competitive advantage in talent management</p> Signup and view all the answers

<p>To identify staffing gaps by comparing projected supply with projected demand</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>Educating others about the value of contingent workers</p> Signup and view all the answers

<p>Making it similar to full-time employees</p> Signup and view all the answers

<p>Vendor Management System (VMS)</p> Signup and view all the answers

<p>To motivate the contingent workers</p> Signup and view all the answers

<p>Number of staff needed to meet deliverables</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>Regular Turnover = Projected turnover rate due to competition Retirement Turnover = Projected turnover rate due to anticipated retirements Knowledge and Skill Loss = Percentage of staff’s knowledge and skills becoming outdated without training Staffing Level = Number of positions needed in 'core' job areas</p> Signup and view all the answers

<p>Effective contingent workforce management involves leveraging technology solutions that provide total visibility into the specialized workforce. = Relevance to technology in managing the contingent workforce Effective contingent workforce management involves implementing robust processes for onboarding, offboarding, and ongoing management. = Relevance to workforce management activity Organizations need to start by evaluating the critical skills needed to achieve company goals when managing their contingent workforce. = Relevance to developing a contingent workforce strategy The demand forecast for staffing primarily identifies what and how many staff will be needed to meet staffing needs. = Relevance to demand forecast for staffing</p> Signup and view all the answers

<p>Staffing Level = How many positions will be needed in 'core' job areas Regular Turnover = Projected turnover rate due to competition Retirement Turnover = Projected turnover rate due to anticipated retirements Knowledge and Skill Loss = Percentage of staff’s knowledge and skills becoming outdated without training</p> Signup and view all the answers

<p>A Vendor Management System (VMS) can help make the contingent workforce a strategic component of an organization’s overall human capital management strategy. = Relevance to technology in managing the contingent workforce Current training and development efforts are mitigating core knowledge and skill loss according to the text. = Relevance to technology in managing the contingent workforce Organizations must think critically about how they will plan for, manage, engage, and integrate the contingent workforce and bolster this plan with the required technology support. = Relevance to technology in managing the contingent workforce Companies can build strategic partnerships with staffing suppliers and vendors to create integrated workforce solutions and improve overall talent management effectiveness. = Relevance to technology in managing the contingent workforce</p> Signup and view all the answers

<p>Demand-side strategies = Retention, reorganization, work process redesign, and employee performance management Supply-side strategies = Recruitment, modified qualifications, workforce development, training and development, and succession planning Contingent workforce management = Effective contingent workforce management involves implementing robust processes for onboarding, offboarding, and ongoing management Enhancing contingent workforce programs = Use of technology, such as talent management systems and analytics tools</p> Signup and view all the answers

<p>Contingent staffing growth = Shortage of workers with critical skill sets and the retirement of the baby boomer generation Key questions for contingent workforce strategy = Planning effectively for the total workforce, complying with labor laws, ensuring effective communication, and managing performance and risk Effective contingent workforce management = Creating integrated workforce solutions and improving overall talent management effectiveness through strategic partnerships with staffing suppliers and vendors Contingent workforce programs enhancement = Improving workforce visibility, streamlining processes, and optimizing workforce utilization through technology</p> Signup and view all the answers

<p>Contingent staffing components = Independent contractors, temporary employees, on-call workers, part-time employees, seasonal workers, co-employment, joint ventures, outsourcing, work made for hire, and exempt employees Critical considerations for contingent workforce strategy = Planning effectively for the total workforce, complying with labor laws, ensuring effective communication, and managing performance and risk Technology's role in contingent workforce programs = Enhancing programs through talent management systems and analytics tools to improve visibility and streamline processes Contingent workforce strategy's key questions = Planning effectively for the total workforce, complying with labor laws, ensuring effective communication, and managing performance and risk</p> Signup and view all the answers

<p>Supply forecast for staffing = Identifying internal availability, external availability, and future labor supply Demand forecast for staffing = Identifying staffing gaps by subtracting projected supply from projected demand Staffing forecast considerations = Evaluating critical skills needed to achieve company goals when managing contingent workforce Factors in gap analysis = Subtracting projected supply from projected demand to identify staffing gaps</p> Signup and view all the answers

<p>Evaluating critical skills needed to achieve company goals = Identifying talent gaps Standardizing the management of contingent workers = Ensuring operational consistency Educating others about the value of contingent workers = Promoting awareness within the organization Using technology solutions for total visibility into the workforce = Improving operational efficiencies</p> Signup and view all the answers

<p>Sourcing, hiring, onboarding, compensating, training, and reviewing full-time employees = Applying talent practices to contingent workforce Connecting contingent workers to each other = Providing additional support Sharing exciting company news with contingent workers = Giving them a sense of the organization Coaching hiring managers on effective strategies for engagement = Ensuring critical part of team's success</p> Signup and view all the answers

<p>Vendor Management System (VMS) = Manages contingent labor and service categories Contingent workforce as a strategic component of human capital management strategy = Improves operational efficiencies and cost controls Innovative thinking and solutions for managing contingent workforce = Critical as contingent workforce continues to grow Planning for, managing, engaging, and integrating the contingent workforce = Bolstering with required technology support</p> Signup and view all the answers

<p>Retention, reorganization, work process redesign, and employee performance management = Reducing staffing needs Building strategic partnerships with staffing suppliers and vendors = Creating integrated workforce solutions Providing research about the use of contingent workers in industry and growth nationally and internationally = Educating others about high value of contingent workers Thinking critically about how to plan for, manage, engage, and integrate the contingent workforce = Bolstering with required technology support</p> Signup and view all the answers