Question 1

The Conference Board of Canada forecasts that by 2020, there will be a labour shortage of more than one million workers.

Accepted Answer

The statement refers to a forecast for 2020, which is in the past relative to the data training cutoff of October 2023. Therefore, it cannot be a current forecast.

Question 2

How many years are typically used for a medium-run HR forecast?
A) 1 to 2 years
B) 2 to 3 years
C) 3 to 5 years
D) 5 to 10 years

Accepted Answer

Typically, a medium-run HR forecast is done for 3 to 5 years. This timeframe is long enough to plan and implement changes, but short enough to account for potential changes in the external environment, such as economic shifts or changes in industry trends.

Question 3

Transaction-based forecasting is concerned with changes in the external environment.

Accepted Answer

The answer of Transaction-based forecasting is concerned with changes in...

Question 4

HR forecasting is more reactive than proactive.

Accepted Answer

HR forecasting is a proactive process that involves analyzing trends and data to anticipate future hiring needs and skills requirements for the organization. It allows HR professionals to plan ahead and be prepared for any potential gaps in talent. Being proactive in HR forecasting helps organizations to save time, money, and resources in the long run by ensuring that they have the right talent at the right time.

Question 5

Given the effects of the Fukushima nuclear disaster caused by the Tōhoku earthquake and tsunami on the external environment, what type of forecasting would HR professionals utilize to incorporate catastrophic circumstances and their consequences?
A) transaction-based forecasting
B) process-based forecasting
C) event-based forecasting
D) critical-based forecasting

Accepted Answer

Event-based forecasting would be the best choice as it focuses on predicting the impact of specific events on the organization's external environment. The Fukushima nuclear disaster was an unexpected catastrophic event that affected the environment, the economy, and people's livelihoods. HR professionals need to anticipate and prepare for such events to minimize their impact on the organization, employees, and stakeholders. Process-based forecasting is more appropriate for predicting changes in operational procedures, while transaction-based forecasting is used for predicting demand and supply levels for goods and services. Critical-based forecasting is not a recognized forecasting technique.

Question 6

Which of the following is NOT related to attrition?
A) Retirements
B) voluntary turnover
C) Terminations
D) Deaths

Accepted Answer

Terminations are typically considered an involuntary form of employee separation, whereas attrition generally refers to voluntary separations such as retirements, voluntary turnover, or deaths.

Question 7

Which of the following is NOT an internal factor that will affect HR demand?
A) downsizing management
B) vacations and sick days
C) planned redundancy
D) training and development

Accepted Answer

The answer of Which of the following is NOT an...

Question 8

What is the external HR supply, given that the organization has a workforce of 1 500, its historical annual replacement/loss rate is 5 percent, and its desired future growth rate is 12 percent? Round to closest whole number.
A) -255
B) -105
C) 105
D) 255

Accepted Answer

To calculate the external HR supply, we need to subtract the current workforce from the desired future workforce (set by growth rate) and then add the replacement/loss rate.

The calculation is: 
Desired future workforce = Current workforce x (1 + growth rate) 
Desired future workforce = 1,500 x (1 + 0.12) = 1,680

External HR supply = Desired future workforce - Current workforce + Replacement/loss rate 
External HR supply = 1,680 - 1,500 + (0.05 x 1,500) 
External HR supply = 255

Therefore, the external HR supply is 255, which makes option D the correct answer.

Question 9

What techniques do HR managers use to encourage employee collaboration for global forecasting?
A) Minimize use of technology like e-mail and teleconferencing.
B) Schedule work to take advantage of time zone differences.
C) Eliminate all duplicating personnel for greater efficiency.
D) Incorporate specific cultures related to contingent workers.

Accepted Answer

HR managers can schedule work to take advantage of time zone differences to encourage collaboration for global forecasting. This allows team members in different parts of the world to work together in real-time, increasing productivity and communication. Minimizing the use of technology like e-mail and teleconferencing may hinder the collaboration process. Eliminating duplicating personnel may not necessarily improve efficiency, and incorporating specific cultures related to contingent workers is not directly related to encouraging collaboration for global forecasting.

Question 10

Forecasting in terms of two to five years represents a short-run forecast.

Accepted Answer

Forecasting in terms of two to five years represents a medium-term or long-term forecast, not a short-run forecast which typically covers a period of up to one year.

Question 11

Why are some individuals categorized into designated groups?
A) because they are exceptionally skilled and need challenges
B) because of their fragile emotional states
C) because they require special attention
D) because they need to be protected from discrimination

Accepted Answer

Designated groups are individuals who belong to historically disadvantaged populations and are protected under anti-discrimination laws. These groups include women, Indigenous people, visible minorities, persons with disabilities, and members of the LGBTQ+ community. They are designated as such to ensure that they are not discriminated against in the workplace, education, or other aspects of society.

Question 12

An advantage to internal recruitment is that the employee does not need extensive socialization within the organization.

Accepted Answer

Internal recruitment involves hiring someone who is already familiar with the company's culture and procedures. Therefore, they do not require extensive socialization compared to an external candidate who is completely new to the organization.

Question 13

Models used in HR forecasting typically fall into one of three categories. What do cause-and-effect models assume?
A) that there is an ongoing relationship between independent and dependent variables
B) that the extrapolated trends will most influence future supply and demand
C) that the time horizon used for the models is most conducive to short-term forecasts
D) that the subjective judgment of experts supports the forecasts

Accepted Answer

Cause-and-effect models assume that there is an ongoing relationship between independent and dependent variables, meaning that changes in independent variables will directly impact changes in the dependent variable being forecasted.

Question 14

HR forecasting is referred to as the "heart" of the HR planning process.

Accepted Answer

HR forecasting is the process of estimating future employment needs of an organization. It is the first and most crucial step of HR planning and forms the foundation for all other HR functions. Hence, it is rightly considered the "heart" of the HR planning process.

Question 15

HR demand requirements must be found from either internal or external supplies of personnel.

Accepted Answer

HR demand requirements can be fulfilled by either hiring internally from within the organization or by seeking external candidates from the job market.

Question 16

A serious problem develops in some organizations when the personnel planning process becomes connected to the overall business goals of the organization.

Accepted Answer

The personnel planning process should always be connected to the overall business goals of the organization. Failing to do so can lead to misalignment between personnel needs and business objectives, resulting in inefficiencies and potentially damaging consequences.

Question 17

Which of the following external factors affect HR forecasting?
A) managerial appraisals
B) competitor's HR policies
C) executive career planning
D) training and development

Accepted Answer

Competitor's HR policies can affect the HR forecasting of an organization as it can impact the availability of skilled employees in the job market, the demand for certain types of jobs, and the compensation and benefit packages offered by the competitors. The other options like managerial appraisals, executive career planning, and training and development relate more to internal factors that can impact HR forecasting.

Question 18

Effective HR forecasting focuses on a comparison between the organization's current stock of workforce knowledge, skills, and abilities and the numbers and skill competencies desired in the workforce in the future.

Accepted Answer

Effective HR forecasting involves comparing the current workforce with the desired workforce in terms of knowledge, skills, and abilities needed in the future.

Question 19

HR supply is defined as the organization's projected requirement for human resources.

Accepted Answer

HR supply refers to the current human resources available within the organization, including the number and skills of the employees, not the projected requirement.

Question 20

Which concept refers to a proposed sequence of events with its own set of assumptions and associated program details?
A) contingency plans
B) Predictions
C) Projections
D) Scenarios

Accepted Answer

Scenarios refer to a proposed sequence of events with its own set of assumptions and associated program details. Contingency plans involve preparing for unexpected events, while predictions and projections involve forecasting future outcomes based on data and trends.

Quiz 5: The HR Forecasting Process

The Conference Board of Canada forecasts that by 2020, there will be a labour shortage of more than one million workers.

How many years are typically used for a medium-run HR forecast?

Transaction-based forecasting is concerned with changes in the external environment.

HR forecasting is more reactive than proactive.

Given the effects of the Fukushima nuclear disaster caused by the Tōhoku earthquake and tsunami on the external environment, what type of forecasting would HR professionals utilize to incorporate catastrophic circumstances and their consequences?

Which of the following is NOT related to attrition?

Which of the following is NOT an internal factor that will affect HR demand?

What is the external HR supply, given that the organization has a workforce of 1 500, its historical annual replacement/loss rate is 5 percent, and its desired future growth rate is 12 percent? Round to closest whole number.

What techniques do HR managers use to encourage employee collaboration for global forecasting?

Forecasting in terms of two to five years represents a short-run forecast.

Why are some individuals categorized into designated groups?

An advantage to internal recruitment is that the employee does not need extensive socialization within the organization.

Models used in HR forecasting typically fall into one of three categories. What do cause-and-effect models assume?

HR forecasting is referred to as the "heart" of the HR planning process.

HR demand requirements must be found from either internal or external supplies of personnel.

A serious problem develops in some organizations when the personnel planning process becomes connected to the overall business goals of the organization.

Which of the following external factors affect HR forecasting?

Effective HR forecasting focuses on a comparison between the organization's current stock of workforce knowledge, skills, and abilities and the numbers and skill competencies desired in the workforce in the future.

HR supply is defined as the organization's projected requirement for human resources.

Which concept refers to a proposed sequence of events with its own set of assumptions and associated program details?