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Flashcards in Chap-5 terms Deck (13):
1

Staffing ratio?

mathematical way of calculating the number of employees a firm needs to produce certain levels of output

2

Scatter pots?

graph that shows how two different variables are related

3

Trend analysis?

using past employment patterns to predict future needs

4

Judgmental forecasting?

relying on the experience and insights of people in the organization to predict a firm's future employment needs
**top-down or bottom-up

5

Transition analysis?

quantitative technique used to analyze internal labor markets and forecast internal labor supply

6

Talent inventories?

detailed record or database that summarizes each employee's skills, competencies, and qualifications

7

Replacement chart?

visually shows each of the possible successors for a job and summarizes their present performance, promotion readiness, and development needs

8

Action plan?

strategy to proactively address an anticipated surplus or shortage of employees

9

Business process outsourcing?

relocating an entire business function to an independent service provider

10

Staffing yields?

proportion of applicants moving from one stage of the hiring process to the next

11

Hiring yields?

percent of applicants ultimately hired

12

Workload-driven forecasting?

forecasting based on historical data on the average number of hires typically made per recruiter or the average number of recruits processed per recruiter over a given period

13

Staffing efficiency?

total cost associated with the compensation of the newly hired employees