Human Resource Management > EXAM > WGU D351 v2 Topic 3 (All)

WGU D351 v2 Topic 3

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Define the term "demand" in terms of HRM. - ✔✔understand the companies human capital needs Define the term "supply" in terms of HRM. - ✔✔who is available to fill those needs List the ways ... that human resource planning (HRP) helps organizations. - ✔✔Reduce cost so there isn't a surplus of people, planning employee development and to use those employees strengths, improve business planning process, provide more opportunities for women and minorities, promote awareness and importance of HRM through the workplace, evaluating the effect of HR actions and policies. How has technology influenced HRP? - ✔✔It is easier to be able to compile data about employees in one place for convenient access, What are the 4 steps (phases) in the HR planning process? What happens during each step/phase? - ✔✔Gathering, analyzing, and forecasting data to develop an HR supply and demand forecast What are the two common forecasting techniques used to project the organization's demand for human resources? - ✔✔Judgemental and statistical [Show More]

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