Fundamentals of Human Resource Management Sixth Edition Chapter 5 – Flashcards
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Forecasting
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First step in human resource planning; The attempts to determine the supply of and demand for various types of human resources to predict areas within the organization where there will be labor shortages or surpluses (P133)
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Trend Analysis
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Constructing and applying statistical models that predict labor demand for the next year, given relatively objective statistics from the previous year. (P134)
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Leading Indicators
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Objective measures that accurately predict future labor demand (P134)
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Transitional Matrix
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A chart that lists job categories held in one period and shows the proportion of employees in each of those job categories in a future period. (P135)
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Core Competency
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A set of knowledge and skills that make the organization superior to competitors and create value for customers (P137)
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Downsizing
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The planned elimination of large numbers of personnel with the goal of enhancing the organization's competitiveness. (P138)
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Outsourcing
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Contracting with another organization to perform a broad set of services (P143)
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Work Utilization Review
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A comparison of the proportion of employees in protected groups with the proportion that each group represents in the relevant labor market. (P145)
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Recruiting
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Any activity carried on by the organization with the primary purpose of identifying and attracting potential employees (P146)
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Employment at will
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Employment principle that if there is no specific employment contract saying otherwise, the employer or employee may end an employment relationship at any time, regardless of cause. (P147)
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Due-Process policies
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Policies that formally lay out the steps an employee may take to appeal the employer's decision to terminate that employee. (P147)
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Job Posting
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The process of communicating information about a job vacancy on company bulletin boards, in employee publications, on corporate intranets, and anywhere else the organization communicates with employees (P148)
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Direct Applicants
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People who apply for a vacancy without promting from the organization (P150)
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Referrals
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People who apply for a vacancy because someone in the organization prompted them to do so. (P150)
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Nepotism
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The practice of hiring relatives (P151)
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Yield Ratio
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A ratio that expresses the percentage of applicants who successfully move from one stage of the recruitment and selection process to the next. (P155)
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Cost per Hire
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The total amount of money spent to fill a job vacancy. The number is computed by finding the cost of using a particular recruitment source and dividing that cost by the number of people hired to fill that type of vacancy. (P155)
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Realistic Job Preview
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Background information about a job's positive and negative qualities (P157)
