Question 1

The board of directors of a fintech company have identified the current Chief Operating Officer as a potential candidate for the CEO role in three to five years.This process is known as

Accepted Answer

Succession planning is the process of identifying potential candidates from within the organization to fill key leadership positions in the future. In this scenario, the board of directors has identified the Chief Operating Officer as a potential candidate for the CEO role in the next three to five years, which is a clear example of succession planning.

Question 2

A specialized team has been formed to complete a six-month technology project at a large financial services firm.At the end of the six months,upon successful completion of the project,each employee will receive a $2500 bonus as a

Accepted Answer

A bonus given at the end of a project is a form of retention strategy, as it incentivizes employees to stay with the company and potentially work on future projects. None of the other options apply, as there is no indication of promotion, succession planning, severance, or lateral moves in this scenario.

Question 3

Logan is appointed to Manager,Customer Service after performing well as a Customer Service Associate for two years.This transition is an example of a

Accepted Answer

Logan's appointment to Manager, Customer Service indicates that it is a merit-based promotion, meaning his promotion was based on his performance and skills exhibited in his previous position as a Customer Service Associate. A lateral move would imply transitioning into a role at the same level or rank, a transfer would be a move to a different department or location, and layoffs and retirement are unrelated to the scenario given.

Question 4

Paula is offered a severance package which will bridge her to retirement.This is also referred to as a

Accepted Answer

The option given to Paula is a severance package that will bridge her to retirement, which implies that she will retire early. Therefore, the best choice is E, early retirement. The other options (promotion, downsizing, outsourcing, and transfer) do not accurately represent the situation described in the question.

Question 5

To round out her skill set,Neerja,a Manager in Department A takes a lateral role as a Manager in Department B.This is also referred to as a

Accepted Answer

A lateral role as a Manager in Department B is referred to as a transfer. Neerja is not being promoted to a higher position, nor is she being downsized or outsourced. Taking an early retirement also does not apply to this situation.

Question 6

________ is legally required in specific situations,such as mass layoffs.

Accepted Answer

Severance pay is legally required in specific situations, such as mass layoffs. Severance pay is a payment made by an employer to an employee who has been laid off or terminated from their job. It is given as a form of compensation for the employee's loss of employment and is often calculated based on length of service with the company.

Question 7

Ben and Felix are both part-time students.Ben works Mondays to Wednesdays as an Administrative Assistant at a medical clinic.Felix works the same job Thursdays and Fridays.This is also referred to as a

Accepted Answer

Ben and Felix are both sharing the same job, working part-time on different days of the week. This is known as work sharing, where multiple part-time employees share one full-time position.

Question 8

You are the HR professional in charge of human resources planning at Blue Fruit Inc.,a company that designs and makes cell phones and tablets.Recently,demand for its products has been falling,resulting in a surplus of employees.Identify and describe five possible solutions you would consider implementing in order to reduce the oversupply of employees at Blue Fruit.

Accepted Answer

The answer of You are the HR professional in charge...

Question 9

A content marketing firm has lost a large client.The leadership team has decided to enact a hiring freeze and not fill vacancies as they arise.What is one challenge with this approach?

Accepted Answer

The answer of A content marketing firm has lost a...

Question 10

Four qualitative techniques for forecasting future HR demand are trend analysis,ratio analysis,scatter plots,and regression analysis.

Accepted Answer

Trend analysis, ratio analysis, scatter plots, and regression analysis are quantitative techniques, not qualitative, for forecasting future HR demand.

Question 11

A strategy used to deal with an employee surplus is the promotion of employees.

Accepted Answer

Promotion of employees is not a strategy for dealing with employee surplus. It may exacerbate the problem by creating an even larger surplus in lower-level positions. Other strategies to address employee surplus include layoffs or attrition.

Question 12

If the labour surplus is temporary in nature one potential strategy is to offer

Accepted Answer

Offering voluntary leaves of absence allows employees to take time off from work and return once the labour surplus has ended. This avoids the need to terminate employees and ensures the organization can retain talent when the labour market becomes tighter again. Retention bonuses, outplacement services, and golden parachutes are typically used in situations where employees are being laid off due to a permanent reduction in workforce. Hiring bonuses are used when there is a labour shortage and the organization needs to attract new talent.

Question 13

Forecasting external HR supply requires an assessment of all of the following except

Accepted Answer

Management inventories are not a factor in forecasting external HR supply. The other options listed (general economic conditions, labour market conditions, occupational labour conditions, and demographic trends) all play a role in external HR supply forecasting.

Question 14

A golden parachute clause refers to

Accepted Answer

A golden parachute clause is a pre-negotiated agreement between an employer and an employee that specifies compensation and benefits to be paid in the event of termination due to downsizing, restructuring, or other similar circumstances. This clause is designed to protect the employee from financial hardship and serve as an incentive to accept an offer of employment in the first place.

Quiz 5: Human Resources Planning