COMM101 Lecture Notes - Lecture 6: Performance Appraisal, Reinforcement, Hindsight Bias
14 Apr 2016
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Document Summary
The process of forecasing future human resources requirements to ensure that the organizaion will have the required number of employees with the necessary skills to meet its strategic objecives (basically smart managing!) Predict future needs based on past employment levels. Raio of business acivity and number of employees needed e. g. sales revenue per salesperson. Used to determine whether two factors (business acivity and staing levels are related) Examines the staisical relaionship between business acivity and employees. A method of forecasing internal labour supply that involves tracking the patern of employee movements through various jobs and developing a transiional probability matrix. Involves a group of experts meeing face to face. Steps include independent idea generaion, clariicaion and open discussion, and private assessment. Judgmental forecasing method involving outside experts as well as organizaional employees. Ideas are exchanged without face-to-face interacion and feedback is used to ine-tune unil consensus is reached. Exists when internal supply of employees exceeds the organizaion"s demand.
