Strategic HRM Practice Questions 2024.

Strategic HRM Practice Questions 2024. Internal supply - ANSWER Existing employees who can be retrained, promoted, transferred, or otherwise redeployed to fill anticipated future HR requirements why internal supply is preferred - ANSWER Current employees are already socialized to the norms, rules and procedures of your organization, and so organizational fit is ensure Succession Planning - ANSWER The systematic process of determining critical roles within the organization, identifying and evaluating possible successors, and developing them for these roles Replacement Planning - ANSWER The process of identifying short-term and long-term emergency backups to fill critical positions "snap shot" Markov - ANSWER A model that produces a series of matrices that detail the various patterns of movement to and from the various jobs in the organization (flow of people) According to Markov - ANSWER an employee has 5 possible movement options Markov model Assumptions - ANSWER 1-Movement patterns are historical. 2-The model requires the use of transitional probabilities or the likelihood that an individual will exhibit movement behaviours. 3- Sequences of movements between jobs are called Markov chains. 4-Vacancies create a multiplier effect. 5-Movement is tracked annually. Employee movement patterns - ANSWER 1-Remaining in the current job 2-Promotion to a higher classified job 3-A lateral transfer to a job with a similar classification level