BUSI 2312U Study Guide - Midterm Guide: Markov Chain, Job Sharing, Telecommuting
Document Summary
Delphi technique: trend- extrapolation(if hired 20 each month, likely to hire 240 this year), indexation, statistical analyses, other- budget and planning analysis, new venture analysis, computer models. Step 2: assess internal and external supply of resources: what resources are available, what skills and competencies do these resources possess. Internal- skills inventories, management inventories, replacement charts, replacement summaries, transition matrices/markov analysis: external-labor market analysis(study of firm labour market to evaluate present/future availability workers), community attitudes(affects nature of labor market), demographic trends(affects availability of external supply) Step 3&4: develop hr objectives & design and implement hr programs. Layoff temporary reductions for business of economic reasons. Alternative work arrangements job sharing / job splitting. Contact out the work to contractors or contingent workers including consultants. Forecasting: identifying the causes that will drive demand. External challenges: economic developments, social-political-legal changes-demographics change, so do employee attitudes, technological changes, competitors-affects an organization"s demand for hr, though not in any uniform manner.
