Strategic workforce planning, HR metrics, and business alignment concepts tested on the SHRM-CP exam.
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- What is strategic workforce planning?
- The process of analyzing and forecasting an organization's talent needs to align staffing with long-term business strategy.
- What is environmental scanning in workforce planning?
- Reviewing internal and external factors, such as economic and labor market trends, that could affect future workforce needs.
- What is demand forecasting in workforce planning?
- Predicting the number and types of employees an organization will need in the future.
- What is supply analysis in workforce planning?
- Assessing the current workforce and the likely future availability of talent, both internally and externally.
- What is a gap analysis in workforce planning?
- Comparing forecasted workforce demand to available supply to identify shortages or surpluses.
- What does SWOT stand for?
- Strengths, Weaknesses, Opportunities, Threats.
- What does PESTLE stand for?
- Political, Economic, Social, Technological, Legal, Environmental.
- How is turnover rate calculated?
- Number of separations during a period divided by the average number of employees, times 100.
- What is voluntary turnover?
- When an employee chooses to leave the organization, such as resigning for another job.
- What is involuntary turnover?
- When the organization ends the employment relationship, such as through termination or layoff.
- What does cost per hire measure?
- The average total cost to recruit and hire one new employee.
- What does time to fill measure?
- The number of days from when a job requisition opens to when an offer is accepted.
- What does time to hire measure?
- The number of days from when a candidate enters the pipeline to when they accept an offer.
- What does revenue per employee measure?
- Total organizational revenue divided by the total number of employees, a measure of workforce productivity.
- What does human capital ROI measure?
- The financial return an organization gets from its investment in employee pay and benefits.