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WGU D351 v2 Topic 3 and 7 Exam 33 Questions with Verified Answers,100% CORRECT
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WGU D351 v2 Topic 3 and 7 Exam 33 Questions with Verified Answers
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WGU D351 v2 Topic 3 and 7 Exam 33 Questions withVerified Answers
Define the term "demand" in terms of HRM. - CORRECT ANSWER understand the
companies human capital needs
Define the term "supply" in terms of HRM. - CORRECT ANSWER who is available to fill
those needs
List the ways that human resource planning (HRP) helps organizations. - CORRECT
ANSWER Reduce cost so there isn't a surplus of people, planning employee
development and to use those employees strengths, improve business planning
process, provide more opportunities for women and minorities, promote awareness and
importance of HRM through the workplace, evaluating the effect of HR actions and
policies.
How has technology influenced HRP? - CORRECT ANSWER It is easier to be able to
compile data about employees in one place for convenient access,
What are the 4 steps (phases) in the HR planning process? What happens during each
step/phase? - CORRECT ANSWER Gathering, analyzing, and forecasting data to
develop an HR supply and demand forecast
What are the two common forecasting techniques used to project the organization's
demand for human resources? - CORRECT ANSWER Judgemental and statistical
What are the six statistical forecasting methods? - CORRECT ANSWER simple linear
regression (increased sales mean we will need to have more CSR), multiple linear
regression (mulitple factors instead of just one. sales increase which increases are need
for CSR, computing space for new clients) productivity ratio ( historical data are used to
examine the past level of a productivity index), HR ratio (past HR data are examined to
determine historical relationships among employees in various jobs or job categories),
time series analysis (Past staffing levels are examined in order to isolate seasonal and
cyclical variations, long-term trends, and random movements.), stochastic ratios (the
likelihood of landing a series of contracts is combined with the HR requirements for
each contract, in order to estimate expected staffing requirements.)
What are the three judgmental forecasting methods? - CORRECT ANSWER
Managerial estimates (in financial institutions like banks, a bottom-up approach is often
used, where each branch passes its estimates to the head office.) delphi technique
(large number of experts take turns presenting a forecast statement and assumptions.
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