Human Resources Planning Questions and Answers 100% correct

Human Resources Planning Questions and Answers 100% correct What is Human Resource Planning? The process of analyzing and identifying the need for and availability of human resources so that the organization can meet its objectives. How the company is going to grow (hiring, training) What are HR planning responsibilities? Top HR executive and subordinates gather information from other managers to use in the development of HR projections for top management to use in strategic planning and setting organizational goals Why is HR planning important? Has an impact on morale Demographics - population is changing, baby boomers, etc Retention, compensation, HR supporting growth What is the purpose of HR planning? As organizations evolve, the people with the right skill sets might not be here Moving around talent vs. moving people out Why is determining the growth/retrenchment objectives important? Growth/retrenchment objectives drive the human resource plan HR departments align the strategic human resource plan with the firm's growth/retrenchment strategy Divestitures and mergers present new problems because staff reconfiguration, reassignment, and layoffs may be needed What are growth strategies? include recruiting, hiring and training What are retrenchment strategies? include layoffs, retirement and terminations How do you assess the external workforce? Economic and governmental factors Competitive evaluations Changing Workforce Considerations (Aging, work/life balance) How do you assess the internal workforce? Job and Skills Audit Organizational Capabilities Inventory What is a jobs and skills audit? What jobs exist now and how essential is each job? How many individuals are performing each job? What are the reporting relationships of the jobs? What are the vital KSAs needed in the jobs? What jobs will be needed to implement future organizational strategies? What are the characteristics of those anticipated jobs? What is an organizational capabilities inventory? HR - databanks - sources of information about employees' KSAs What are the components of an organizational capabilities inventory? Individual employee demographics Individual career progression Individual performance data In regards to an HR Action Plan, how do you determine HR objectives? Objectives should be specified with regard to human resource utilization in the company Objectives should be integrated with other functional objectives Specific policies need to answer: Where does the organization stand on internal versus external hiring? How frequently should job requirements be evaluated? To what extent does the organization seek to automate operations? What policies ensure the workforce remains flexible and adaptive? What are specific operational objectives? Elements of what composes the plan - all functions fall in HR no matter how many people perform them Might have to pay top tier guys to come in What is the comparison plan Google pays less because job is so good and well connected What is the PA workforce planning framework? Need - comparison of the current environment with future organizational plans and designs Approach - planning for controlled and uncontrolled events that may affect the organization's workforce Implementation - putting the plan into action Evaluation - assessing the results for the purpose of determining success and further action needed How do you align the workforce strategy? Determine what part of the workforce makes a strategic contribution and what part does not The number of strategic capabilities and jobs within those capabilities will vary How do you clarify the impact of workforce strategy? Many times HR people think they are being strategic but they really aren't Putting time into upgrading compensation when it is not the most beneficial way - may not be strategic Challenge of traditional approaches to workforce strategy - costs are clear and immediate but benefits are vague, ill-defined and in the future Differentiated approach - start with the processes that execute on the strategy - rationale for talent initiatives, their benefits and their measures are easy to recognize What is a capability? An organizational asset that combines talent, information, technology and routines (ex. real estate, talent, financial) How do you identify your strategic capabilities? Capability - an organizational asset that combines talent, information, technology, and routines (ex. real estate, talent, financial) Capabilities need to be specific to the firm - the capability differentiates one company from another Innovation can be a capability - take picture of check (chase) Need to operationally define Best programs start at the core capability and work backwards How do you diagnose a strategic capability? When considering whether or not an organizational capability is strategically important, ask the following questions: Is the capability an important source of the value proposition you offer to customers? Is this capability relatively unique among your firm's close competitors? If your close competitors all rely on a similar capability, is your firm "head and shoulders" above the competition in the execution of that capability? If your close competitors all rely on a similar capability, does your firm execute on part with industry standards? Need to answer yes or you may be going down the wrong path What is the strategic impact of talent? Talent drivers (strategic mindset) -- internal operations/processes (reliability, efficiency) -- drivers/customer value proposition (increased market share) -- org success (financial performance) How do we take it back from HR to business You start with what success is and drives of that success