WGU C232 Intro to Human Resource Management Topic 3 Exam Questions & Answers

WGU C232 Intro to Human Resource Management Topic 3 Exam Questions & Answers What is Human Resource Planning? - Answer ️️ -The immediate step in creating human resource programs to fill the future fluctuating human capital needs of a company. True or False. HRP must review both internal and external factors to determine the company's needs. - Answer ️️ -True. The internal and external factors are outlined via a SWOT analysis. What are the six purposes of HR Planning? - Answer ️️ -1. Reduce human capital costs 2. Employee development 3. Improve overall business-planning process 4. Create opportunities for women & minorities 5. Promote HRM value throughout all company levels 6. Create tools evaluating HRM actions & policies What is the next step in HRP once the business plans are determined? - Answer ️️ -Next step in HRP is develop workable company structures, i.e. decide # of employees needed. HRP influences what other four areas of HRM? - Answer ️️ -1. Job analysis 2. recruitment & selection 3. training & development 4. career management What is job analysis? - Answer ️️ -Takes inventory (usually through HRIS/HRSM technology) of: worker #s and job descriptions a/o specifications, KSA, and workforce preferences List the 4 phases of HRP. - Answer ️️ -1. Data developing 2. Establish HR policies and programs 3. Implement action programs, 4. Evaluate HRM plans. Define internal labor demand. - Answer ️️ -A company's need for the type and # of job openings Define external labor demand. - Answer ️️ -A requirement for the type and # of competitors openings. What is an internal labor supply? - Answer ️️ -A company's availability of talent. What is an external labor supply? - Answer ️️ -The availability of required talent in the Relevant Labor Market or RLM. How and when is demand forecasting conducted? - Answer ️️ -In HRP Phase 1 forecasting uses 1) Judgmental Forecasting - such as managerial estimates, Delphi Technique, monimal grouping technique or 2) Statistical Projections - like simple linear regression, multiple linear regression, Productivity ratios, Human resource ratio, Time series analysis, or Stochastic analysis. How and when is supply forecasting conducted? - Answer ️️ -In HRP Phase 2 forecasting uses one of two Judgmental Techniques: Succession or Replacement Planning. Describe the typical characteristics an entrepreneurial strategy as implemented by an HRM program in Phase 2. - Answer ️️ -A company needs to adopt HR policies that lead employees to: 1. take risks and be innovative 2. more relaxed policies and not integrated completely, 3.