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Workforce Planning: Key Concepts and Definitions, Exams of Business Informatics

London Institute of Business and Technology (LIBT)Business Informatics

Key definitions and concepts related to workforce planning are covered, including workforce analysis, forecasting, gap analysis, and staffing plan elements. Questions and answers address workforce planning processes like supply and demand analysis, and strategies for meeting workforce needs. This resource helps understand the systematic approach to anticipate human capital needs and ensure the availability of appropriate knowledge, skills, or abilities to achieve organizational goals. It also covers investing in employee development and retention. Useful for HR professionals and students, it offers a concise overview of workforce planning principles, valuable for SHRM certification or workforce management studies. It highlights aligning workforce planning with corporate and HR strategic plans for effective staffing.

Typology: Exams

2024/2025

Available from 05/28/2025

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SHRM CP - Organization - Workforce Planning
Consultation competency correct answer The ability to provide guidance to organizational
stakeholders.
workforce planning correct answer first step in the workforce management process; involves all
the activities needed to ensure that workforce size and competencies meet current and future
organizational and individual needs
workforce analysis correct answer Systematic approach to anticipate human capital needs and
data HR professionals can use to ensure that appropriate knowledge, skills, or abilities will be
available when needed to accomplish organizational goals and objectives.
forecasting correct answer used to estimate future workforce supply and demand; Sound
forecasting requires environmental scanning—for example, the age of the current workforce or
the availability of certain skills in the market
workforce analysis process correct answer Supply Analysis (where are we now?), Demand
Analysis (where do we want to be?), Gap Analysis (what is lacking?), Solution Analysis (what can
we afford?)
Supply Analysis (1st step) correct answer Where are we now? What do we have?
determining if there are sufficient types and numbers of employees currently available
Demand Analysis (2nd step) correct answer Where do we want to be? What do we need?
A type of research used to estimate how much customer demand there is for a particular
product and understand the factors driving that demand in the future
gap analysis (3rd step) correct answer what is lacking? what knowledge, skills, or abilities
currently exist and are needed in the future? may identify deficiencies in staffing needs as well
as any surplus of staffing levels in certain jobs and/or competencies
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SHRM CP - Organization - Workforce Planning

Consultation competency correct answer The ability to provide guidance to organizational stakeholders. workforce planning correct answer first step in the workforce management process; involves all the activities needed to ensure that workforce size and competencies meet current and future organizational and individual needs workforce analysis correct answer Systematic approach to anticipate human capital needs and data HR professionals can use to ensure that appropriate knowledge, skills, or abilities will be available when needed to accomplish organizational goals and objectives. forecasting correct answer used to estimate future workforce supply and demand; Sound forecasting requires environmental scanning—for example, the age of the current workforce or the availability of certain skills in the market workforce analysis process correct answer Supply Analysis (where are we now?), Demand Analysis (where do we want to be?), Gap Analysis (what is lacking?), Solution Analysis (what can we afford?) Supply Analysis (1st step) correct answer Where are we now? What do we have? determining if there are sufficient types and numbers of employees currently available Demand Analysis (2nd step) correct answer Where do we want to be? What do we need? A type of research used to estimate how much customer demand there is for a particular product and understand the factors driving that demand in the future gap analysis (3rd step) correct answer what is lacking? what knowledge, skills, or abilities currently exist and are needed in the future? may identify deficiencies in staffing needs as well as any surplus of staffing levels in certain jobs and/or competencies

Solution Analysis (4th step) correct answer What can we afford? How will we get what we need? This is when an organization decides whether to "build," "buy," or "borrow" the talent needed to attain the staffing levels and competencies required to meet the tactical objectives turnover rate correct answer tracks the number of separations and the total number of workforce employees per month. Start by taking total number of employees for the year divided by 12 months. For example, total employees of 2,704/12 = 225 employees. Then divide the number of separations for the year by the average number of employees per month: 65/225 = 28.9% turnover correct answer the act of replacing employees leaving an organization or the attrition or loss of employees flow analysis correct answer Supply analysis tool that analyzes employee inflow and outflow (transfers, promotions, etc.) to predict future movement. Allows the HR manager to visualize the change in the department and predict future staffing needs. Judgmental forecasts correct answer apply expert judgment to information from the past and present to predict future conditions and staffing needs and to understand opportunities and threats that can affect the staffing plan. Statistical forecasting correct answer generally fall into two categories: regression analysis and simulations regression analysis correct answer A method of predicting sales based on finding a relationship between past sales and one or more independent variables, such as population or income. Can be subdivided into two types: simple linear regression and multiple linear regression simple linear regression correct answer Projection of future demand based on a past relationship; involves a single variable. For example, a relationship between gross sales and the number of employees

permanence (prioritizing gaps) correct answer Does the problem identified in the gap analysis occur on an ongoing basis, or is it due to some temporary factor that may be resolved without having to take any action? impact (prioritizing gaps) correct answer How significant is the impact of this gap on the organization compared to other identified gaps? control (prioritizing gaps) correct answer Does the organization have sufficient resources to address the gap? Will an effective solution use a reasonable expenditure of resources, or is the solution likely to be more expensive than the problem itself? Will employees be willing to participate in the solution? evidence (prioritizing gaps) correct answer How certain is the quality of the data? Does the evidence provide a clear indication that the gap is a serious problem, or is more evidence required? root cause (prioritizing gaps) correct answer To the extent that the gap indicates a problem that needs to be addressed, is it the root cause of the problem? tactical objectives correct answer * Specify which gaps will receive focused attention.

  • Describe the degree to which the gap will be closed.
  • Specify the time frame in which this will be achieved.
  • Describe the localities or functional groups to which the objectives will apply.
  • Identify special considerations to be made because of unique local conditions. staffing plan correct answer describes—in some detail—how the tactical objectives are going to be achieved through the delegation of tasks and the application of resources

elements of a staffing plan correct answer 1 - statement of purpose; 2 - stake holders; 3 - activities and tasks; 4 - team members; 5- resources; 6 - communication plan; 7 -continuous improvement statement of purpose (elements of a staffing plan) correct answer Establishes the goals and targets for the staffing plan stakeholders (elements of a staffing plan) correct answer Identifies key decision makers and others who should be involved in the development of the plan activities and tasks (elements of a staffing plan) correct answer Describes the activities and tasks that need to be carried out and the time line for completion; notes relationships between activities, tasks, and deliverables team members (elements of a staffing plan) correct answer Identifies all the people who have been assigned or who have volunteered to work on specific activities, tasks, and deliverables resources (elements of a staffing plan) correct answer Documents financial and nonfinancial resources required for implementation communication plan (elements of a staffing plan) correct answer notes specific tactics and responsibilities for communicating initial details about the plan as well as monitoring the plan and soliciting ongoing feedback continuous improvement (elements of a staffing plan) correct answer Sets up a process to review the extent to which tactical objectives are achieved; identifies ways to continuously improve the plan Gap correct answer An organization is researching labor costs for similar operations and projections by a government labor agency on the availability of certain types of skilled employees. What stage of the workforce analysis process is the organization completing?

-Current experience with staffing requirements -Corporate and HR strategic plans Demand analysis correct answer Which stage in the workforce analysis process considers the business challenges an organization faces when creating a forecast of the organization's future workforce composition? -Gap analysis -Supply analysis -Solution analysis -Demand analysis HR staff member with 17 years' experience who has participated in job analyses for many of the jobs correct answer HR has been approved to expend financial and staffing resources for the upcoming fiscal year on a staffing plan. Who would likely be chosen to participate in the plan development and implementation? -Manager with staffing plan experience and a reputation that he is weak on follow-through -Payroll specialist who has knowledge of what current employees are paid in each position -Leader who has authorized the budget and wants to assure that the monies are well spent -HR staff member with 17 years' experience who has participated in job analyses for many of the jobs Workforce analysis correct answer HR has been asked to target and identify how the organization's strategic plans can be realized over a three-year scope. This will necessitate examining current organizational competencies against those needed in the future and reconciling the differences. Which process should HR recommend to assist the organization in making these determinations? -Benchmarking -Workforce analysis -Succession planning -Talent management

Analysis to determine gaps between current and future staffing requirements correct answer The staffing plan turns analysis data and organizational objectives into reality. What type of analysis is most likely to be considered in the development of a global staffing plan? -Performance evaluations to assess performance against goals and objectives -Process analysis to decrease costs or while improving effectiveness -Trend analysis to predict future requirements based on experience -Analysis to determine gaps between current and future staffing requirements To provide a snapshot of an organization's current pool of talent correct answer Which is a primary goal during supply analysis? -To provide a snapshot of an organization's current pool of talent -To identify a list of factors to be analyzed using environmental scanning -To obtain an accurate accounting of all HR and people-related costs -To determine the need for layoffs and early retirements during downsizing