SHRM - Workforce Management

Use of information from past and present to predict future conditions.
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Terms in this set (19)
Use of information from past and present to predict future conditions.
Judgmental forecasts

Use of information from past and present to predict future conditions.
Statistical method used to determine whether a relationship exists between variables and the strength of the relationship.
Regression analysis

Statistical method used to determine whether a relationship exists between variables and the strength of the relationship.
Situation in which an organization shares responsibility and liability for its alternative workers with an alternative staffing supplier; also known as co-employment.
Joint employment

Situation in which an organization shares responsibility and liability for its alternative workers with an alternative staffing supplier; also known as co-employment.
Act of reorganizing the legal, ownership, operational, or other structures of an organization.
Restructuring

Act of reorganizing the legal, ownership, operational, or other structures of an organization.
Self-employed individuals hired on a contract basis for specialized services.
Independent contractors

Self-employed individuals hired on a contract basis for specialized services.
Activities needed to ensure that workforce size and competencies meet current and future organizational and individual needs.
Workforce planning

Activities needed to ensure that workforce size and competencies meet current and future organizational and individual needs.
Termination of employment of individual employees or groups of employees for reasons other than performance, for example, economic necessity or restructuring; also known as downsizing.
Reduction in force (RIF)

Termination of employment of individual employees or groups of employees for reasons other than performance, for example, economic necessity or restructuring; also known as downsizing.
Process of creating, acquiring, sharing, and managing knowledge to augment individual and organizational performance.
Knowledge management (KM)

Process of creating, acquiring, sharing, and managing knowledge to augment individual and organizational performance.
Systematic approach to anticipate human capital needs and data HR professionals can use to ensure that appropriate knowledge, skills, or abilities will be available when needed to accomplish organizational goals and objectives.
Workforce analysis

Systematic approach to anticipate human capital needs and data HR professionals can use to ensure that appropriate knowledge, skills, or abilities will be available when needed to accomplish organizational goals and objectives.
Act of replacing employees leaving an organization; attrition or loss of employees.
Turnover

Act of replacing employees leaving an organization; attrition or loss of employees.
Process of investigating a decision thoroughly before finalizing it to identify all potential factors that could affect the positive and negative impacts of the decision.Due diligence Process of investigating a decision thoroughly before finalizing it to identify all potential factors that could affect the positive and negative impacts of the decision.Situation in which an organization shares responsibility and liability for its alternative workers with an alternative staffing supplier; also known as joint employment.Co-employment Situation in which an organization shares responsibility and liability for its alternative workers with an alternative staffing supplier; also known as joint employment.Process of implementing a talent management strategy for identifying and fostering the development of high-potential employees or other job candidates who, over time, may move into leadership positions of increased responsibility.Succession planning Process of implementing a talent management strategy for identifying and fostering the development of high-potential employees or other job candidates who, over time, may move into leadership positions of increased responsibility."Snapshot" assessment of the availability of qualified backup for key positions.Replacement planning "Snapshot" assessment of the availability of qualified backup for key positions.Part of workforce analysis that identifies the current make-up of employees in terms of their demographics, skills, competencies, performance levels, expected retirement dates, pay grades, and other factors that help explain the workforce's composition.Workforce profile Part of workforce analysis that identifies the current make-up of employees in terms of their demographics, skills, competencies, performance levels, expected retirement dates, pay grades, and other factors that help explain the workforce's composition.Annualized formula that tracks number of separations and total number of workforce employees per month.Turnover rate Annualized formula that tracks number of separations and total number of workforce employees per month.Development and integration of HR processes that retain the knowledge, skills, and abilities of employees that will meet current and future organizational needs.Talent management Development and integration of HR processes that retain the knowledge, skills, and abilities of employees that will meet current and future organizational needs.Termination of employment of individual employees or groups of employees for reasons other than performance, for example, economic necessity or restructuring; also known as reduction in force (RIF).Downsizing Termination of employment of individual employees or groups of employees for reasons other than performance, for example, economic necessity or restructuring; also known as reduction in force (RIF).Representations of real situations; give organizations the opportunity to speculate as to what would happen if certain courses of action were pursued.Simulations Representations of real situations; give organizations the opportunity to speculate as to what would happen if certain courses of action were pursued.