HRM200 Chapter Notes - Chapter 5: Nominal Group Technique, Delphi Method, Regression Analysis

• School: University of Waterloo
• Department: Human Resources Management
• Course: HRM200
• Professor: Katrina Di Gravio

Document Summary

Human resources planning: forecasting hr requirements to have enough skilled employees to meet the strategic objectives. Importance: helps meet goals, achieve new hire economies, meets market labour demands, anticipates hr shortages/surpluses, controls labour costs. Hr plan aligns with the goals and long/short term strategic plans. 3: plan and implement hr programs to balance supply and demand. 1: trend analysis: predicting future needs based on past employment. 2: ratio analysis: business activity per number of employees needed. 3: scatter plots: to determine whether 2 factors are related. 4: regression analysis: examines the statistical relationship between business activity and employees. 1: nominal group technique: group of experts meet for independent idea generation, discussion, assessment. 2: delphi technique: involves outside experts/internal employees where ideas/feedback are not face to face and fine-tuned till a consensus is reached. 3: staffing table: representation of all jobs with the employment requirements listed. 3: upgrade decisions based on new markets and skills.