MGT 420 Study Guide - Final Guide: John Millikin, Prevailing Wage, Job Analysis
Document Summary
Mgt 420 exam 1 (chapters 1,2,3,4,5,7, & 11) Chapter 5: information for making human resource decisions. Human resource planning is the process of forecasting the supply and demand for human resources within an organization and developing action plans for aligning the two. Human resource information system is an integrated and increasingly automated system for maintaining a database regarding the employees in an organization. Executive succession involves systematically planning for future promotions into top management positions. Rate of unemployment is calculated by the bureau of labor statistics as the percentage of individuals looking for and available for work who are not presently employed. Market wage rate is the prevailing wage rate for a given job in a given labor market. Human capital investments are investments a person makes in him or herself to increase their value in the workplace. These investments might take the form of additional education or training.
