p.111
Investment Companies and Mutual Funds
What are commingled funds?
Partnerships of investors that pool funds.
p.7
Staffing Strategy and Policies
What key decisions are involved in staffing strategy?
Acquisition, deployment, and retention of a company’s workforce.
p.43
Human Resource Planning (HRP)
What is the first step in the HRP process?
Determine future HR requirements.
p.7
Staffing Strategy and Policies
How does effective staffing contribute to competitive advantage?
By employing capable people more effectively than rivals.
p.126
Investment Companies and Mutual Funds
What does Figure 4.3 represent?
Investment Company Assets Under Management in 2021 (in billion dollars).
p.111
Investment Companies and Mutual Funds
What is a REIT?
Similar to a closed-end fund but with mortgage trusts.
p.33
Human Capital as a Resource
What is measured by the median hours of work during the 7 days before enumeration?
The typical number of hours worked by employed persons in the week prior to data collection.
p.130
Investment Companies and Mutual Funds
What information is provided about the fund's management in the prospectus?
Description of the fund’s investment adviser and portfolio manager.
p.3
Human Capital as a Resource
What are the components of organizations?
Organizations are combinations of physical, financial, intellectual, and human capital.
p.43
Human Resource Planning (HRP)
What is the second step in the HRP process?
Determine future HR availabilities.
p.5
Objectives of People Resourcing
What does the well-being objective in People Resourcing focus on?
Meeting social sustainability obligations.
p.38
Human Capital as a Resource
Where can the key statistics from the 2021 Population Census be found?
In the document available at the provided URL.
p.7
Staffing Strategy and Policies
What is the aim of a resourcing strategy?
To ensure that an organization achieves competitive advantage by attracting and retaining more capable people than its rivals.
p.68
Job Analysis and Job Requirements
What does the term 'Task Dimensions' refer to?
Grouping sets of task statements into dimensions and attaching a name to each dimension.
p.68
Job Analysis and Job Requirements
What are some alternative terms for 'Task Dimensions'?
Duties, accountability areas, responsibilities, and performance dimensions.
p.25
Staffing Strategy and Policies
What does employment or personnel planning involve?
Deciding what positions the firm will have to fill and how to fill them.
p.13
Person/Job Fit and Person/Organization Fit
What are jobs characterized by?
Their requirements and rewards.
p.10
Person/Job Fit and Person/Organization Fit
What is meant by person/job match in staffing quality?
The alignment between an individual's skills and the requirements of a specific job.
p.101
Objectives of People Resourcing
What themes are typically covered in the Swire Summer Internship Program?
Professional development, teamwork, and real-world experience.
p.5
Objectives of People Resourcing
What is one of the main objectives of People Resourcing?
To promote reputation through equality and diversity.
p.25
Human Resource Planning (HRP)
What is the goal of HR planning?
To ensure that a competent, stable workforce is employed.
p.43
Human Resource Planning (HRP)
What does the third step of HRP involve?
Conduct external and internal environmental scanning.
p.113
Investment Companies and Mutual Funds
What is the primary investment focus of equity mutual funds?
Invest primarily in stock.
p.98
Recruitment Planning and Sources
What does the effectiveness of recruitment sources assess?
The impact of sources on increased employee satisfaction, performance, and retention.
p.85
Job Analysis and Job Requirements
What does Competency analysis aim to determine?
KSAOs and behavioral capabilities needed across each job based on company strategy.
p.120
Investment Companies and Mutual Funds
What type of investors can purchase Class I shares?
Only institutional investors.
p.31
Human Capital as a Resource
What is the focus of the document regarding Hong Kong?
Population projections from 2020 to 2069.
p.109
Investment Companies and Mutual Funds
What are unit investment trusts?
Pools of money invested in a fixed portfolio for the life of the fund.
p.10
Staffing Strategy and Policies
What does staffing quantity refer to?
Levels of staffing needed within an organization.
p.38
Human Capital as a Resource
What is the primary purpose of the 2021 Population Census?
To collect key statistics about the population.
p.38
Human Capital as a Resource
What type of data is typically included in a population census?
Demographic information such as age, gender, and household composition.
p.51
Human Capital as a Resource
What is a Management Replacement Chart?
A tool used to identify and plan for potential replacements for key management positions.
p.65
Objectives of People Resourcing
What is the Sentence Analysis Technique used for?
To analyze task statements.
p.55
Objectives of People Resourcing
What are staffing objectives derived from?
Gaps between requirements and availabilities.
p.85
Job Analysis and Job Requirements
What is the primary focus of Job Requirements analysis?
To collect information on activities performed on the job and assess needed KSAOs for each job.
p.31
Human Capital as a Resource
Where can the Hong Kong population projections document be accessed?
At the provided URL: https://www.statistics.gov.hk/pub/B1120015082020XXXB0100.pdf.
p.124
Investment Companies and Mutual Funds
What is one potential advantage of ETFs?
They can be traded continuously like stocks.
p.64
Job Analysis and Job Requirements
What is the purpose of task statements?
To describe the behaviors or work activities necessary for job performance.
p.25
Human Resource Planning (HRP)
What is HR planning?
The process of assigning the organization’s HR needs in light of organizational goals and changing conditions.
p.14
Person/Job Fit and Person/Organization Fit
What is Person/Job Fit?
The match between a person's characteristics and those of the job or tasks performed at work.
p.63
Job Analysis and Job Requirements
What is the purpose of a Job Requirements Matrix?
To outline the necessary skills and qualifications for a specific job.
p.114
Investment Companies and Mutual Funds
What is the purpose of balanced mutual funds?
Designed to be candidates for an individual’s entire investment portfolio.
p.51
Human Capital as a Resource
What does a Management Replacement Chart typically include?
Information about current managers, potential successors, and their readiness for promotion.
p.49
Human Resource Planning (HRP)
What is a limitation of Markov Analysis regarding sample size?
Small samples yield unstable estimates of future availabilities; ideally, there should be more than 20 employees in each job category/level.
p.45
Human Resource Planning (HRP)
What is the first step in forecasting HR availabilities?
Determine head count data for the current workforce and their availability in each job category/level.
p.30
Human Capital as a Resource
What is the focus of the document regarding Hong Kong?
Population projections from 2020 to 2069.
p.130
Investment Companies and Mutual Funds
What does the prospectus of a mutual fund describe?
Investment objectives and policies.
p.5
Objectives of People Resourcing
How does People Resourcing aim to protect the organization?
By protecting it from wrongful dismissal decisions.
p.113
Investment Companies and Mutual Funds
What type of securities do money market mutual funds invest in?
Money market securities such as commercial paper, repurchase agreements, or CDs.
p.51
Human Capital as a Resource
What is the primary purpose of a Management Replacement Chart?
To ensure continuity in leadership by preparing for succession in management roles.
p.29
Human Capital as a Resource
What type of data is typically collected in a population census?
Demographic, social, and economic data.
p.120
Investment Companies and Mutual Funds
What is the front-end load percentage for Class A shares in the Dreyfus High-Yield Fund?
0–4.5%, depending on the size of the investment.
p.81
Job Analysis and Job Requirements
What should be consulted to establish a baseline for comparison?
Existing lists of competency models.
p.60
Job Analysis and Job Requirements
What is the definition of Job Analysis?
The process of studying jobs to gather, analyze, synthesize, and report information about job requirements.
p.51
Human Capital as a Resource
How does a Management Replacement Chart benefit an organization?
It helps in strategic planning for talent management and succession planning.
p.42
Human Resource Planning (HRP)
What is the first step in Human Resource Planning?
Forecast Labor Requirements.
p.124
Investment Companies and Mutual Funds
What are some examples of ETFs?
Spiders, diamonds, cubes, and WEBS.
p.82
Job Analysis and Job Requirements
Who should revise competency statements?
Senior management and directors.
p.65
Staffing Strategy and Policies
What is a potential outcome of using the Sentence Analysis Technique?
Enhanced clarity in job descriptions and expectations.
p.55
Objectives of People Resourcing
What do qualitative staffing targets focus on?
Knowledge, Skills, Abilities, and Other characteristics (KSAO).
p.1
People Resourcing and Strategy
Why is effective people resourcing important for organizations?
It ensures the right people are in the right roles to achieve strategic objectives.
p.119
Investment Companies and Mutual Funds
What are the main components of the fee structure for mutual funds?
1. Operating expenses, 2. Front-end load, 3. Back-end load, 4. 12b-1 charges.
p.92
Recruitment Planning and Sources
Why is monitoring performance important for recruiters?
To ensure effective recruiter behaviors and reward performance.
p.81
Job Analysis and Job Requirements
Who should be interviewed to develop job-specific competencies?
Managers and supervisors.
p.86
Recruitment Planning and Sources
What is external recruitment?
Attracting candidates from outside the organization.
p.37
Human Capital as a Resource
What are KSAOs in the context of labor markets?
Knowledge, Skills, Abilities, and Other characteristics.
p.24
Human Resource Planning (HRP)
What is Human Resource Planning (HRP)?
HRP involves activities to forecast an organization's labor demand and internal labor supply.
p.84
Job Analysis and Job Requirements
What should relevant staff do regarding job duties?
List duties in order of importance and frequency of occurrence.
p.71
Job Analysis and Job Requirements
What does KSAOs stand for in job specifications?
Knowledge, Skills, Abilities, and Other characteristics.
p.35
Human Capital as a Resource
How is acceptance of gender roles in professions changing?
There is increasing acceptance of women in male-dominated fields and vice versa.
p.61
Job Analysis and Job Requirements
What working conditions are evaluated in job analysis?
Levels of temperature, light, offensive fumes, and noise.
p.111
Investment Companies and Mutual Funds
What are hedge funds?
Vehicles that allow private investors to pool assets to be invested by a fund manager.
p.105
Investment Companies and Mutual Funds
What is the main focus of Chapter 4 in the book 'Investments'?
Mutual Funds and Other Investment Companies.
p.29
Human Capital as a Resource
Where can the key statistics of the 2021 Population Census be found?
In the document published by the Census and Statistics Department.
p.123
Investment Companies and Mutual Funds
What is 'pass-through status' under the U.S. tax code?
Taxes are paid only by the investor, not by the fund itself.
p.14
Person/Job Fit and Person/Organization Fit
What does KSAO stand for?
Knowledge, Skills, Abilities, and Other characteristics.
p.43
Human Resource Planning (HRP)
What is the final step in the HRP process?
Develop action plans to close projected gaps.
p.123
Investment Companies and Mutual Funds
What is a disadvantage of pass-through status for fund investors?
Investors do not control the timing of the sales of securities, reducing their ability to engage in tax management.
p.52
Human Resource Planning (HRP)
Why is it important to ensure implications from external scanning receive attention?
To effectively manage human resources.
p.103
Recruitment Planning and Sources
What is the purpose of Realistic Job Previews?
To ensure job seekers understand the actual nature of the jobs available to them.
p.108
Investment Companies and Mutual Funds
Why do investment companies pool assets of individual investors?
To manage and invest those assets collectively.
p.123
Investment Companies and Mutual Funds
How can a high portfolio turnover rate affect tax efficiency?
It can be particularly 'tax inefficient'.
p.9
Staffing System Components
What are core staffing activities?
Recruitment, selection, and employment processes.
p.6
Objectives of People Resourcing
What is one of the key activities of a resourcing specialist?
Review workforce planning data to plan resourcing approaches.
p.13
Person/Job Fit and Person/Organization Fit
What are KSAOs?
Knowledge, Skills, Abilities, and Other characteristics necessary for job performance.
p.11
Staffing Strategy and Policies
What does it mean if an organization is 'Overstaffed'?
There are more employees than needed for current operations.
p.88
Recruitment Planning and Sources
What must be considered regarding the job search process for applicants?
The job search and choice process used by applicants.
p.4
Objectives of People Resourcing
What is the goal of the performance objective in People Resourcing?
To recruit and select capable and motivated staff who can contribute to high performance.
p.23
Human Resource Planning (HRP)
What factors influence Human Resource Planning?
Organizational goals, labor market conditions, and internal workforce dynamics.
p.27
Staffing Strategy and Policies
How do job growth and job opportunities affect staffing?
They influence the availability of candidates and the demand for positions.
p.106
Investment Companies and Mutual Funds
How is the performance of mutual funds typically evaluated?
By comparing returns against benchmarks and assessing risk-adjusted performance.
p.46
Staffing System Components
What does a transition probability matrix represent in Markov Analysis?
It represents the probabilities of moving from one job category or level to another.
p.64
Job Analysis and Job Requirements
What are task statements?
Objectively written descriptions of behaviors or work activities engaged in by employees to perform a job.
p.33
Human Capital as a Resource
What does the underemployment rate indicate?
The percentage of employed persons who are working less than they would like or in jobs that do not utilize their skills.
p.67
Job Analysis and Job Requirements
What is the first task performed in the housekeeping job?
Clean the assigned areas, including the bedroom and washroom.
p.30
Human Capital as a Resource
Where can the population projections for Hong Kong be accessed?
At the Hong Kong Statistics Department website.
p.29
Human Capital as a Resource
What is the purpose of the 2021 Population Census?
To gather key statistics about the population.
p.114
Investment Companies and Mutual Funds
What types of mutual funds are categorized under international investment policies?
Global, international, regional, and emerging market.
p.39
Human Capital as a Resource
What does KSAOs stand for in labor markets?
Knowledge, Skills, Abilities, and Other characteristics.
p.101
Objectives of People Resourcing
What is the Swire Summer Internship Program?
A program designed to provide internship opportunities for students.
p.68
Job Analysis and Job Requirements
Is the creation of Task Dimensions mandatory?
No, creation is optional.
p.109
Investment Companies and Mutual Funds
How much did the value of unit investment trusts decline from 1990 to 2017?
$105 billion to $85 billion.
p.65
Job Analysis and Job Requirements
What does the Sentence Analysis Technique help identify?
Key components and requirements of task statements.
p.63
Job Analysis and Job Requirements
Where can the Job Requirements Matrix be found?
In Exhibit 4.3, page 161.
p.96
Objectives of People Resourcing
What does a Targeted Message focus on?
Attracting a specific type of employees.
p.82
Job Analysis and Job Requirements
What is the first step in conducting a competency-based Job Analysis (JA)?
Develop systems and hierarchies of relationships among competencies.
p.114
Investment Companies and Mutual Funds
What do balanced mutual funds typically hold?
Both equities and fixed-income securities in relatively stable proportions.
p.113
Investment Companies and Mutual Funds
What do sector mutual funds concentrate on?
A particular industry or country.
p.65
Human Capital as a Resource
How does the Sentence Analysis Technique improve understanding of tasks?
By breaking down complex statements into simpler parts.
p.55
Objectives of People Resourcing
What type of targets are quantitative staffing objectives expressed in?
Full-Time Equivalents (FTEs).
p.106
Investment Companies and Mutual Funds
What are the main types of investment companies?
Mutual funds, unit investment trusts, hedge funds, and closed-end funds.
p.10
Person/Job Fit and Person/Organization Fit
What does person/organization match entail?
The fit between an individual's values and the culture of the organization.
p.107
Investment Companies and Mutual Funds
What is one key benefit of using an investment company?
Diversification and divisibility.
p.130
Investment Companies and Mutual Funds
What does the Statement of Additional Information (SAI) include?
The fund’s annual report.
p.81
Job Analysis and Job Requirements
What is the first step in conducting competency-based job analysis?
Evaluate organizational strategy and goals with senior management.
p.124
Investment Companies and Mutual Funds
What are Exchange Traded Funds (ETFs)?
Offshoots of mutual funds that allow investors to trade index portfolios like shares of stock.
p.13
Person/Job Fit and Person/Organization Fit
How are individuals characterized?
Via qualifications (KSAOs) and motivation.
p.114
Investment Companies and Mutual Funds
What are 'funds of funds'?
Many balanced mutual funds are considered funds of funds.
p.84
Job Analysis and Job Requirements
Who should be identified for Job Analysis (JA) preparations?
Staff who know the job best and can be objective.
p.92
Recruitment Planning and Sources
What are nontraditional areas of training for recruiters?
Technology skills, marketing skills, working with other departments, and ethics.
p.81
Job Analysis and Job Requirements
What is the purpose of interviewing business unit-level directors?
To develop an initial set of job-spanning competencies.
p.102
Objectives of People Resourcing
What is a key difference in the messaging approach of KMB and MTR?
KMB targets a local audience while MTR targets a global audience.
p.61
Job Analysis and Job Requirements
What types of activities does job analysis consider?
Physical and mental activities undertaken by the worker.
p.103
Objectives of People Resourcing
What are some benefits of using Realistic Job Previews?
Higher job survival rate, lower turnover rate, higher job satisfaction, and more realistic expectations.
p.55
Staffing Strategy and Policies
What are the two types of staffing activities generated?
Short-term options and long-term options.
p.42
Human Resource Planning (HRP)
What is the third step in Human Resource Planning?
Conduct Environmental Scans.
p.10
Staffing Strategy and Policies
What is the role of staffing organizations?
To facilitate the staffing process by providing resources and expertise.
p.71
Job Analysis and Job Requirements
What are the main components of a job description?
Tasks, task dimensions, importance of tasks/dimensions, and job context.
p.124
Investment Companies and Mutual Funds
How do ETFs compare to mutual funds in terms of cost?
ETFs are cheaper than mutual funds.
p.120
Investment Companies and Mutual Funds
What happens if Class B shares are redeemed within one year of purchase?
An exit fee of 1% applies.
p.12
Person/Job Fit and Person/Organization Fit
What does Person/Job Fit refer to?
The compatibility between an individual's characteristics and the requirements of a job.
p.57
Staffing Strategy and Policies
What are the two main approaches to staffing philosophy?
Internal staffing and external staffing.
p.106
Investment Companies and Mutual Funds
Where can investors find sources of information about mutual funds?
Financial news websites, fund prospectuses, and investment research platforms.
p.99
Recruitment Planning and Sources
How do environmental factors influence recruitment?
Through labor market conditions, economic/social trends, and social attitudes.
p.27
Human Capital as a Resource
What are KSAOs in the context of labor demand?
Knowledge, Skills, Abilities, and Other characteristics sought by employers.
p.69
Objectives of People Resourcing
What is a consideration for new employees when assessing task importance?
Need for new employee training.
p.96
Objectives of People Resourcing
What is the purpose of an Employment Brand Message?
To promote unique features of the organization.
p.52
Human Resource Planning (HRP)
What does external environmental scanning involve?
Tracking trends and developments in the external environment.
p.107
Investment Companies and Mutual Funds
What is the primary function of an investment company?
To pool and invest the funds of individual investors in securities or other assets.
p.63
Job Analysis and Job Requirements
What does a Job Requirements Matrix typically include?
Skills, qualifications, and competencies needed for a job.
p.49
Human Resource Planning (HRP)
What is a challenge in detecting employee movements in Markov Analysis?
It is unable to detect multiple moves between T and T+1.
p.11
Human Resource Planning (HRP)
What does 'Projected Staffing Requirements' refer to?
The anticipated number of staff needed for future operations.
p.86
Recruitment Planning and Sources
What is internal recruitment?
Filling job vacancies with current employees.
p.78
Human Capital as a Resource
How does competency modeling enhance the workforce?
By enhancing skill levels.
p.11
Human Resource Planning (HRP)
What does 'Projected Staffing Availabilities' indicate?
The expected number of staff available to meet staffing needs.
p.8
Staffing Strategy and Policies
What is the definition of staffing?
The process of acquiring, deploying, and retaining a workforce of sufficient quantity and quality to create positive impacts on the organization’s effectiveness.
p.60
Staffing System Components
How does job analysis relate to staffing activities?
It has different degrees of relevance and supports staffing activities.
p.16
Person/Job Fit and Person/Organization Fit
What does Person/Organization Fit refer to?
The compatibility between people and entire organizations.
p.9
Staffing Strategy and Policies
What does legal compliance in staffing involve?
Ensuring adherence to employment laws and regulations.
p.35
Objectives of People Resourcing
What is stereotyping in the context of professions?
Assigning specific roles or characteristics to individuals based on their gender.
p.16
Person/Job Fit and Person/Organization Fit
How did Tom (1971) operationalize Person/Organization Fit?
As personality-climate congruence.
p.91
Recruitment Planning and Sources
Who are some sources of recruiters?
HR professionals, line managers, and employees.
p.41
Human Resource Planning (HRP)
Why is it important to consider projected turnover in staffing plans?
To ensure adequate staffing levels and maintain operational efficiency.
p.99
Recruitment Planning and Sources
What are organizational factors that affect the recruitment process?
Reputation and resources.
p.84
Job Analysis and Job Requirements
What is a crucial step after collecting data during JA?
Review and verify the data.
p.56
Staffing Strategy and Policies
How can organizations increase productivity as a staffing activity?
By implementing strategies to enhance efficiency.
p.18
Human Capital as a Resource
Who is referred to as the applicant in the staffing system?
The person seeking employment.
p.95
Staffing Strategy and Policies
Why is past experience with a source important?
It influences the choice of sources based on previous outcomes.
p.83
Recruitment Planning and Sources
What role does job analysis play in recruitment?
It aids in recruitment and selection.
p.124
Investment Companies and Mutual Funds
How must ETFs be purchased?
They must be purchased from a broker, usually for a fee.
p.70
Human Capital as a Resource
What does KSAOs stand for?
Knowledge, Skill, Ability, Other Characteristics.
p.3
Human Capital as a Resource
What does human capital encompass?
Knowledge, skills, abilities, and motivation of people.
p.14
Person/Job Fit and Person/Organization Fit
What is demands-abilities fit?
It refers to the alignment of employees' KSAO (knowledge, skills, and abilities) with job requirements.
p.25
Human Resource Planning (HRP)
How does HR planning relate to organizational goals?
It aligns HR needs with the organization's goals and changing conditions.
p.86
Recruitment Planning and Sources
What is the primary purpose of recruitment?
To attract and select qualified candidates for job openings.
p.98
Recruitment Planning and Sources
Which recruitment sources are considered the most effective?
Referrals, job postings, and rehiring of former employees.
p.3
Human Capital as a Resource
Why is human capital considered the most valuable asset of an organization?
Because it influences better performance of the business.
p.101
Objectives of People Resourcing
What type of content is included in the Swire Summer Internship Program?
Training sessions, mentorship, and project work.
p.74
Job Analysis and Job Requirements
What is the purpose of Functional Job Analysis?
To describe the nature of jobs and prepare job descriptions using standardized statements and terminology.
p.106
Investment Companies and Mutual Funds
What are the key functions of mutual funds?
They pool money from multiple investors to invest in a diversified portfolio.
p.59
Job Analysis and Job Requirements
What are the key components of job analysis?
Job description, job specification, and job evaluation.
p.71
Job Analysis and Job Requirements
What does a job description include?
Job family, job title, job summary, task statements and dimensions, importance indicators, and job context indicators.
p.68
Job Analysis and Job Requirements
What potential risks are associated with Task Dimensions?
Any potential risk is incurred during the grouping process.
p.103
Staffing Strategy and Policies
How can Realistic Job Previews be implemented?
By providing opportunities to observe others performing the work.
p.81
Job Analysis and Job Requirements
What should be evaluated after developing competencies?
Fit across levels of competencies and identify areas of potential inconsistency.
p.131
Investment Companies and Mutual Funds
What type of information can you find on www.finance.yahoo.com/funds?
Information on mutual funds.
p.61
Job Analysis and Job Requirements
What defines successful performance in a job according to job analysis?
Skills, knowledge, personal qualities, qualifications, and experience.
p.59
Job Analysis and Job Requirements
What methods are commonly used in job analysis?
Interviews, questionnaires, observation, and work diaries.
p.22
Objectives of People Resourcing
What is the goal of employer branding?
To develop an employment brand image of being a great place to work or 'employer of choice' in the minds of applicants.
p.9
Job Analysis and Job Requirements
What is the purpose of job analysis?
To determine the requirements and responsibilities of a job.
What does the supply of labor refer to?
The availability of workers in the labor market.
p.16
Person/Job Fit and Person/Organization Fit
How did Kriskof (1996) define Person/Organization Fit?
As person-value congruence.
p.124
Investment Companies and Mutual Funds
What is a potential disadvantage of ETFs regarding pricing?
Prices can depart from NAV (Net Asset Value).
p.41
Human Resource Planning (HRP)
How do strategic decisions impact staffing plans?
They determine the direction and resource allocation for staffing needs.
p.24
Human Resource Planning (HRP)
What is compared in HRP to determine employment gaps?
Projections of labor demand and internal labor supply.
p.16
Person/Job Fit and Person/Organization Fit
What is the degree to which employees share the organization’s values, goals, and priorities?
It defines Person/Organization Fit.
p.102
Objectives of People Resourcing
How do the two videos address the needs of applicants?
By providing targeted messages for different audiences.
p.39
Human Capital as a Resource
What factors contribute to the supply of labor?
Educational attainment, literacy, and motivation.
p.3
Human Capital as a Resource
What advantage do organizations gain by capitalizing on human capital?
They have a strategic advantage over their competitors.
p.34
Human Capital as a Resource
What are some factors that influence general economic conditions?
Product markets, labor markets, inflation, interest rates, foreign exchange rates, and government regulations.
p.92
Recruitment Planning and Sources
What are traditional areas of training for recruiters?
Interviewing skills, job analysis, interpersonal skills, laws, forms and reports, company and job characteristics, and recruitment targets.
p.96
Objectives of People Resourcing
What is a Realistic Message in recruitment?
Messages that include both positive and negative aspects of a job or organization.
p.18
Staffing System Components
What are the components of a staffing system?
Recruitment, Selection, Employment.
p.98
Recruitment Planning and Sources
Which recruitment sources are considered the least effective?
Newspaper ads and employment agencies.
p.42
Human Resource Planning (HRP)
What is the second step in Human Resource Planning?
Forecast Labor Availabilities.
p.10
Staffing System Components
What are staffing system components?
The various elements that make up the staffing process, including recruitment, selection, and onboarding.
p.107
Investment Companies and Mutual Funds
How does an investment company help individual investors with transaction costs?
It offers lower transaction costs.
p.45
Human Resource Planning (HRP)
What is the purpose of forecasting HR availabilities?
To assess the current workforce and plan for future HR needs.
p.88
Job Analysis and Job Requirements
Why is it important to establish qualifications for a job?
To ensure candidates can perform the job effectively.
p.59
Job Analysis and Job Requirements
How does job analysis benefit organizations?
It helps in recruitment, performance management, and training needs assessment.
p.85
Job Analysis and Job Requirements
How does the Job Analysis process link to organizational strategy?
By discussing strategy with executives to determine overall goals and reviewing how each job fits with those goals.
p.74
Job Analysis and Job Requirements
What is the Management Positions Descriptions Questionnaire (MPDQ)?
A 197-item, behaviorally oriented, structured questionnaire for describing, comparing, classifying, and evaluating management positions.
p.41
Human Resource Planning (HRP)
What must staffing plans reflect?
Projected turnover, quality and skills of employees, strategic decisions, technological changes, and financial resources.
p.85
Job Analysis and Job Requirements
What does the Job Analysis process help determine for selection?
Broad KSAOs needed across the organization.
p.119
Investment Companies and Mutual Funds
What is a front-end load?
A commission or sales charge paid when you purchase the shares.
p.8
Objectives of People Resourcing
How does staffing relate to organizational effectiveness?
Staffing aims to create positive impacts on the organization’s effectiveness.
p.50
Human Resource Planning (HRP)
What is replacement planning?
A strategy to identify and prepare employees to fill key positions when they become vacant.
p.13
Person/Job Fit and Person/Organization Fit
What is implied by the degree of fit between job characteristics and a person?
There are consequences for every match.
p.118
Investment Companies and Mutual Funds
What are financial supermarkets in the context of mutual funds?
They sell shares in funds from many complexes.
p.15
Person/Job Fit and Person/Organization Fit
What is the concept of Person/Organization Fit?
The alignment between an individual's values and the organization's values.
p.119
Investment Companies and Mutual Funds
What are 12b-1 charges?
Marketing and distribution costs associated with mutual funds.
p.56
Staffing Strategy and Policies
What is a temporary staffing solution for addressing shortages?
Increasing overtime, part-time, or temporary workers.
p.52
Human Resource Planning (HRP)
What is one key purpose of external environmental scanning?
Documenting implications for management of human resources.
p.88
Recruitment Planning and Sources
What is a personnel requisition?
A formal request to fill a job position.
p.59
Job Analysis and Job Requirements
What is the primary purpose of job analysis?
To identify and determine the duties, responsibilities, and requirements of a job.
p.86
Recruitment Planning and Sources
What are the two main types of recruitment?
Internal recruitment and external recruitment.
p.120
Investment Companies and Mutual Funds
What is the back-end load for Class B shares?
0–1%, depending on the years until holdings are sold.
p.13
Person/Job Fit and Person/Organization Fit
What does the matching process involve?
A dual match between KSAOs to requirements and motivation to rewards.
p.20
Staffing Strategy and Policies
What is the staffing strategy an outgrowth of?
The interplay between organization and HR strategy.
p.118
Investment Companies and Mutual Funds
How are mutual funds sold directly?
By the fund underwriter through mail, offices, phone, or the Internet.
p.108
Investment Companies and Mutual Funds
What is necessary for investment companies after pooling assets?
They need to divide claims to those assets among investors.
p.4
Objectives of People Resourcing
What does the staffing objective in People Resourcing focus on?
Acquiring, deploying, and retaining an effective workforce.
p.27
Staffing Strategy and Policies
What are two economic factors that influence staffing?
Economic expansion and contraction.
p.106
Investment Companies and Mutual Funds
What are some costs associated with investing in mutual funds?
Management fees, sales loads, and expense ratios.
p.1
People Resourcing and Strategy
How does recruitment fit into People Resourcing and Strategy?
Recruitment is a key component that ensures the organization attracts and selects suitable candidates.
p.82
Job Analysis and Job Requirements
How should the competency system be incorporated into organizational plans?
Into plans for career development and promotion.
p.74
Job Analysis and Job Requirements
What is the purpose of the Position Classification Inventory (PCI)?
To classify occupations and assess person-job fit.
p.69
Objectives of People Resourcing
How can the importance of a task be quantified?
By using percentage (%) time spent.
p.24
Human Resource Planning (HRP)
What does HRP forecast regarding labor?
It forecasts labor demand requirements and internal labor supply availabilities.
p.59
Job Analysis and Job Requirements
What is a job description?
A written statement that outlines the duties and responsibilities of a job.
p.11
Staffing Strategy and Policies
What does 'Understaffed' mean?
There are fewer employees than needed for current operations.
p.91
Recruitment Planning and Sources
Why is enthusiasm important for recruiters?
It helps in engaging candidates and promoting the company positively.
p.44
Human Resource Planning (HRP)
What is the purpose of forecasting HR requirements?
To determine the future human resource needs of an organization.
p.86
Objectives of People Resourcing
Why is employer branding important in recruitment?
It helps attract candidates by promoting a positive image of the organization.
p.4
Objectives of People Resourcing
How does People Resourcing facilitate change within an organization?
By attracting, retaining, and motivating staff.
What is involved in the selection process?
Measurement and evaluation of candidates, both external and internal.
p.86
Recruitment Planning and Sources
What is the significance of a recruitment plan?
It outlines the strategy for attracting and selecting candidates effectively.
p.78
Human Capital as a Resource
What are organizations experimenting with in HR applications?
Developing competencies and competency models.
p.1
People Resourcing and Strategy
What is the focus of People Resourcing and Strategy?
To align human resource practices with organizational goals.
p.69
Objectives of People Resourcing
What is the first step in assessing the importance of tasks/dimensions?
Involves an objective assessment of importance.
p.85
Job Analysis and Job Requirements
What is a key method used in Job Requirements analysis?
Reviewing occupational requirements and collecting data on tasks, duties, and responsibilities from incumbents and supervisors.
p.9
Objectives of People Resourcing
What is the focus of an organization's strategy?
To align HR and staffing strategies with overall business goals.
p.14
Person/Job Fit and Person/Organization Fit
What is needs-supplies or supplies-values fit?
It refers to how employees' needs, desires, or preferences are met by the jobs they perform.
p.4
Objectives of People Resourcing
What is the primary aim of People Resourcing?
To meet six objectives related to staffing, performance, administration, and change.
p.60
Job Analysis and Job Requirements
What does KSAO stand for?
Knowledge, Skills, Abilities, and Other characteristics.
p.82
Job Analysis and Job Requirements
What should be provided to all parties involved in the competency system?
Competency system information.
p.18
Staffing Strategy and Policies
What is the focus of the selection process?
Assessment and evaluation of candidates.
p.6
Staffing Strategy and Policies
What do resourcing specialists use to fill roles?
Different sourcing channels.
p.128
Investment Companies and Mutual Funds
What are the two types of fund management mentioned?
Actively managed and passively managed.
p.78
Human Capital as a Resource
What is emphasized in competency modeling?
Establishing general competencies.
p.108
Investment Companies and Mutual Funds
What types of assets might be evaluated in a portfolio for NAV?
Stocks and other investment assets.
p.97
Recruitment Planning and Sources
What are recruitment brochures used for?
To provide information about job opportunities and the organization.
p.119
Investment Companies and Mutual Funds
What is a back-end load?
A redemption fee when you sell the shares.
p.61
Job Analysis and Job Requirements
What does job analysis identify regarding tools?
What machinery or equipment is used in the job.
p.12
Job Analysis and Job Requirements
What are KSAOs?
Knowledge, Skills, Abilities, and Other characteristics required for a job.
p.91
Recruitment Planning and Sources
What knowledge should recruiters possess?
Knowledge about the company, jobs, and career-related issues.
p.8
Staffing Strategy and Policies
Is staffing considered a process or a system?
Staffing is considered both a process and a system.
p.19
Staffing System Components
What is the purpose of goals and objectives in staffing?
To provide clear targets for workforce management.
p.27
Human Capital as a Resource
What demographic trends can affect labor supply?
Changes in population size, age distribution, and workforce participation rates.
What is the final step in the employment process?
Decision making and final match of candidates.
p.17
Staffing Strategy and Policies
What might new job duties entail?
Responsibilities that are added to an employee's role as the organization evolves.
p.27
Staffing Strategy and Policies
What is a labor shortage?
A situation where the demand for labor exceeds the supply.
p.15
Job Analysis and Job Requirements
What are KSAOs?
Knowledge, Skills, Abilities, and Other characteristics required for a job.
p.108
Investment Companies and Mutual Funds
What does Net Asset Value (NAV) represent?
The value of assets minus liabilities in an investment portfolio.
p.60
Job Analysis and Job Requirements
What are the two major forms of job requirements?
Specific KSAOs for the job and competency-based KSAOs for all applicants.
p.78
Objectives of People Resourcing
What is one strategic HR reason for competency modeling?
Create awareness and understanding of the need for change in business.
p.88
Recruitment Planning and Sources
What does the yield ratio represent in recruitment?
The relationship of applicant inputs to outputs at various decision points.
p.3
Human Capital as a Resource
What must organizations do to maintain their human capital?
Attract and keep their human capital.
p.69
Objectives of People Resourcing
What are the two key decisions in assessing task importance?
Decide on the attribute to be assessed and whether it will be measured categorically or continuously.
p.47
Human Capital as a Resource
What does the Transition Probability Matrix represent in Markov Analysis?
It represents the probabilities of moving from one job category and level to another.
p.61
Job Analysis and Job Requirements
What aspect of a job does job analysis address regarding timing?
When is the job to be performed?
p.23
Human Resource Planning (HRP)
Why is Human Resource Planning important?
It ensures that an organization has the right number of people with the right skills at the right time.
p.49
Human Resource Planning (HRP)
What assumption does Markov Analysis make about employee movement?
It assumes equal probability of movement for every employee.
p.19
Staffing System Components
What do mission and vision statements contribute to in staffing?
They guide the staffing process and align it with organizational goals.
p.50
Human Resource Planning (HRP)
What is the purpose of forecasting HR availabilities?
To anticipate future human resource needs and ensure the right talent is available.
p.107
Investment Companies and Mutual Funds
What is a crucial administrative function of investment companies?
Record keeping and administration.
p.103
Objectives of People Resourcing
What outcomes are associated with Realistic Job Previews?
Higher performance and trust among employees.
p.118
Investment Companies and Mutual Funds
What potential issue arises from brokers selling mutual funds?
Potential conflict of interest.
p.131
Investment Companies and Mutual Funds
What does the term 'Encyclopedias' refer to in the context of mutual funds?
Comprehensive sources of mutual fund information.
p.95
Staffing Strategy and Policies
How does cost influence the choice of sources?
Cost is a key criterion that affects the choice of sources.
p.22
Human Capital as a Resource
What factors contribute to employer branding?
Reputation, value, or culture-based elements.
p.26
Staffing Strategy and Policies
What are current internal financial resources considered in staffing?
Current financial and human resources in the organization.
p.17
Human Capital as a Resource
What are organizational culture and values?
The shared beliefs and norms that shape the behavior of employees within an organization.
p.23
Human Resource Planning (HRP)
How does technology impact Human Resource Planning?
It provides tools for data analysis, forecasting, and improving communication within HR processes.
p.18
Job Analysis and Job Requirements
What does the organization represent in the staffing system?
The job or position to be filled.
p.50
Human Resource Planning (HRP)
What are qualifications inventories?
Records listing employees’ education, career interests, skills, and other qualifications for promotion.
p.121
Investment Companies and Mutual Funds
How is the rate of return calculated in the example?
Rate of return = (Ending NAV - Initial NAV + Income and Capital gain distribution) / Initial NAV
p.26
Staffing Strategy and Policies
What role do competitors and partners play in staffing decisions?
They influence the organization's staffing needs and strategies.
p.50
Human Resource Planning (HRP)
What is a personnel inventory?
A record that includes employees' qualifications and development interests.
p.39
Human Capital as a Resource
Why is literacy important in labor markets?
It affects the employability and productivity of the workforce.
p.82
Job Analysis and Job Requirements
At what levels should a competency system be created?
Organizational, unit, and job levels.
p.18
Recruitment Planning and Sources
What does recruitment involve?
Identification and attraction of candidates.
p.74
Job Analysis and Job Requirements
What does the Position Analysis Questionnaire (PAQ) determine?
The degree to which different job elements are involved in performing a particular job.
p.124
Investment Companies and Mutual Funds
Can ETFs be sold short or purchased on margin?
Yes, they can be sold short or purchased on margin.
p.84
Job Analysis and Job Requirements
What should be followed during the Job Analysis process?
A structured guide or checklist.
p.78
Objectives of People Resourcing
What is another strategic HR reason for competency modeling?
Improve teamwork and coordination.
p.110
Investment Companies and Mutual Funds
What is a characteristic of Open-End Investment Companies?
They stand ready to redeem or issue shares at the Net Asset Value (NAV).
p.95
Staffing Strategy and Policies
What is one criterion affecting the choice of sources in strategy development?
Sufficient quantity and quality.
p.60
Staffing System Components
Why is job analysis important for staffing systems?
It provides the foundation for successful staffing systems.
p.110
Investment Companies and Mutual Funds
How are shares priced in Open-End Investment Companies?
At Net Asset Value (NAV).
p.124
Investment Companies and Mutual Funds
What makes ETFs tax efficient?
Their structure allows for more favorable tax treatment compared to mutual funds.
p.17
Person/Job Fit and Person/Organization Fit
What does the Person/Organization Fit Model emphasize?
The alignment between an individual's values and the organizational culture.
p.86
Recruitment Planning and Sources
What is a recruitment source?
A channel through which job candidates are sourced, such as job boards or referrals.
p.110
Investment Companies and Mutual Funds
What is a key feature of Closed-End Investment Companies?
They do not redeem or issue shares.
p.54
Human Resource Planning (HRP)
What is internal environmental scanning in HRP?
It involves assessing the internal environment of an organization to inform HR strategies.
p.6
Human Capital as a Resource
What strategy do resourcing specialists develop to attract talent?
Employer Branding strategy.
p.59
Job Analysis and Job Requirements
What is a job specification?
A statement that outlines the qualifications and skills required for a job.
p.13
Person/Job Fit and Person/Organization Fit
What are job requirements expressed in terms of?
Both tasks involved and KSAOs necessary for performance.
p.118
Investment Companies and Mutual Funds
How do brokers benefit from selling mutual funds in financial supermarkets?
They split management fees with the mutual fund company.
p.95
Staffing Strategy and Policies
What HR outcomes can be impacted by the choice of sources?
Satisfaction, performance, and retention.
p.56
Staffing Strategy and Policies
What is one way to manage a surplus of employees?
Implementing a hiring freeze.
p.99
Recruitment Planning and Sources
How can economic/social trends impact recruitment?
They can affect the demand for certain skills and the overall job market.
p.12
Objectives of People Resourcing
What is the significance of job requirements in recruitment?
They help in attracting suitable candidates who match the job's needs.
p.54
Human Resource Planning (HRP)
What are some key indicators monitored in internal scanning?
Employee performance, absenteeism, turnover, and accidents.
p.35
Human Capital as a Resource
What are male professions typically associated with?
Jobs traditionally dominated by men, such as engineering or construction.
p.49
Human Resource Planning (HRP)
What is required for job categories in Markov Analysis?
Valid and meaningful job categories/levels are necessary.
p.79
Staffing Strategy and Policies
What type of definitions should competencies have?
Specific, behavioral definitions, not just labels.
p.23
Human Resource Planning (HRP)
What is Human Resource Planning?
The process of forecasting an organization's future human resource needs and planning to meet those needs.
p.35
Human Capital as a Resource
What are female professions typically associated with?
Jobs traditionally dominated by women, such as nursing or teaching.
p.1
People Resourcing and Strategy
What role does workforce planning play in People Resourcing?
It helps identify current and future staffing needs based on organizational goals.
p.92
Recruitment Planning and Sources
What should be rewarded in the recruitment process?
Effective recruiter behaviors.
p.118
Investment Companies and Mutual Funds
What is a characteristic of indirect mutual fund sales?
Brokers act on behalf of the underwriter and receive a commission.
p.91
Recruitment Planning and Sources
What are desirable characteristics of recruiters?
Strong interpersonal skills, knowledge about the company, jobs, career-related issues, and enthusiasm.
p.8
Staffing System Components
What are the three main components of staffing?
Acquire, deploy, and retain.
p.13
Person/Job Fit and Person/Organization Fit
What do job requirements often extend beyond?
Task and KSAO requirements.
p.123
Investment Companies and Mutual Funds
What does turnover refer to in the context of mutual funds?
The trading activity of a portfolio.
p.83
Job Analysis and Job Requirements
What is one use of information collected from job analysis?
Preparation of job description and job specification.
p.36
Objectives of People Resourcing
What is the nature of demand for labor?
Demand for labor is a derived demand.
p.19
Staffing System Components
What are the key decisions involved in staffing?
Size and type of workforce to be acquired, trained, managed, rewarded, and retained.
p.4
Objectives of People Resourcing
What does the administration objective involve in People Resourcing?
Developing policies and procedures related to employment, such as job descriptions and contracts.
p.71
Job Analysis and Job Requirements
What is the purpose of a job specification?
To describe the KSAOs required for a job.
p.36
Objectives of People Resourcing
What do job growth projections indicate?
They indicate expected increases in employment opportunities.
p.46
Staffing System Components
In the transition probability matrix, what does the value 0.6 in the A1 row and A1 column indicate?
There is a 60% probability of staying in the same job category A1.
p.22
Staffing Strategy and Policies
What is an example of a company that uses employer branding effectively?
Hilti, as shown in their employer branding video.
p.36
Staffing Strategy and Policies
What are KSAOs?
Knowledge, Skills, Abilities, and Other characteristics sought by employers.
p.99
Recruitment Planning and Sources
What role do labor market conditions play in recruitment?
They determine the availability of candidates and competition for talent.
p.119
Investment Companies and Mutual Funds
What is an annual fee in the context of mutual funds?
A fee that may be charged annually, often related to operating expenses.
p.70
Human Capital as a Resource
What is included in the 'Knowledge' component of KSAOs?
Information and understanding required for a job.
p.53
Human Resource Planning (HRP)
How does the unemployment rate affect the supply of outside candidates?
A higher unemployment rate may increase the supply of available candidates.
p.57
Staffing Strategy and Policies
What are the potential benefits of external staffing?
Access to a wider talent pool and new perspectives.
p.44
Human Resource Planning (HRP)
What does Scenario Planning involve?
Creating different scenarios to anticipate future HR needs.
p.17
Staffing Strategy and Policies
Why is flexibility in hiring important?
To ensure employees can perform multiple jobs as needed.
p.85
Job Analysis and Job Requirements
Why is documenting task requirements important?
For legal purposes and to determine specific KSAOs needed for selection.
p.39
Human Capital as a Resource
How does motivation influence the supply of labor?
It impacts individuals' willingness to work and their productivity.
p.106
Investment Companies and Mutual Funds
What factors influence investment styles and policies in mutual funds?
Market conditions, investor goals, and fund management strategies.
p.20
Staffing Strategy and Policies
What key decisions does staffing strategy involve?
Acquisition, deployment, and retention of the organization's workforce.
p.108
Investment Companies and Mutual Funds
What is included in the calculation of NAV?
Total value of assets minus total liabilities.
p.34
Human Capital as a Resource
How do economic conditions impact HR movement?
They influence hiring, retention, and overall workforce management.
p.86
Job Analysis and Job Requirements
What role does job analysis play in recruitment?
It helps define the skills and qualifications needed for a position.
p.11
Staffing Strategy and Policies
What does 'Fully Staffed' imply?
The organization has the exact number of employees required.
p.18
Objectives of People Resourcing
What does employment entail in the staffing system?
Decision making and final match between applicant and organization.
p.20
Staffing Strategy and Policies
What does the staffing strategy guide the development of?
Recruitment, selection, and employment programs.
p.23
Human Resource Planning (HRP)
What are the key steps in Human Resource Planning?
Assessing current HR capacity, forecasting future HR needs, and developing action plans.
p.83
Job Analysis and Job Requirements
How is job evaluation related to job analysis?
It utilizes information collected from job analysis.
p.35
Objectives of People Resourcing
What impact does changing acceptance have on social norms?
It challenges traditional views and promotes equality in the workplace.
p.8
Human Capital as a Resource
What issues are considered in staffing?
Quantity and quality issues.
p.19
Staffing System Components
How does HR strategy relate to organizational strategy?
HR strategy may flow from organizational strategy and/or influence its formulation.
p.11
Human Resource Planning (HRP)
What is the purpose of comparing staffing requirements and availabilities?
To assess whether an organization is overstaffed, fully staffed, or understaffed.
p.46
Staffing System Components
What does the value 0.1 in the A1 row and B2 column signify?
There is a 10% probability of transferring from job category A1 to job category B2.
p.40
Staffing Strategy and Policies
What are labor shortages and surpluses?
Labor shortages occur when demand for workers exceeds supply, while surpluses occur when supply exceeds demand.
p.94
Staffing Strategy and Policies
How does internal recruitment affect employee commitment?
It leads to greater commitment.
p.53
Human Resource Planning (HRP)
What factors influence the forecasting of the supply of outside candidates?
Economic conditions, unemployment rate, number of graduates, number of competitors, economic development trends, and future prospects of the industry.
p.40
Staffing Strategy and Policies
What characterizes a 'tight' labor market?
A tight labor market is characterized by low unemployment and high demand for workers.
p.44
Human Resource Planning (HRP)
What are the two judgmental techniques for HR forecasting?
Top-down approach and Bottom-up approach.
p.17
Job Analysis and Job Requirements
What does 'And other duties as assigned...' imply?
The expectation that employees may take on additional tasks beyond their primary responsibilities.
p.95
Staffing Strategy and Policies
What role does source choice play in employee retention?
It can affect retention rates within the organization.
p.115
Investment Companies and Mutual Funds
Are flexible funds designed to be low-risk?
No, they are not designed to be low-risk index funds.
p.47
Human Resource Planning (HRP)
What does the forecast of availabilities indicate?
It indicates the expected workforce distribution across job categories at a future time.
p.27
Staffing Strategy and Policies
What role does international trade play in staffing?
It can create job opportunities and influence labor demand.
p.69
Objectives of People Resourcing
What aspect of performance can be considered when assessing task importance?
Importance to overall performance.
p.50
Human Resource Planning (HRP)
What is succession planning?
A process for identifying and developing internal personnel to fill key leadership positions.
p.84
Job Analysis and Job Requirements
What might be a concern for employees during Job Analysis?
Potential changes to their roles or responsibilities.
p.57
Staffing Strategy and Policies
What does internal staffing focus on?
Promoting and hiring from within the organization.
p.15
Job Analysis and Job Requirements
What factors are considered in Job Requirements?
Duties, KSAOs (Knowledge, Skills, Abilities, and Other characteristics), and motivation.
p.17
Objectives of People Resourcing
What do norms of desirable attitudes and behaviors for employees refer to?
The expected conduct and mindset that align with the organization's culture.
p.110
Investment Companies and Mutual Funds
How are shares priced in Closed-End Investment Companies?
At a premium or discount to Net Asset Value (NAV).
p.36
Human Capital as a Resource
What is the significance of education levels in labor demand?
Education levels determine the qualifications required for various jobs.
p.47
Human Resource Planning (HRP)
What does a negative change in workforce at T + 1 indicate?
It indicates a decrease in the total number of employees.
p.90
Recruitment Planning and Sources
What is an example of a recruitment budget mentioned?
A recruitment budget for 500 new hires.
p.36
Human Capital as a Resource
What sector is often surveyed for skill deficiencies?
The manufacturing sector.
p.97
Recruitment Planning and Sources
What distinguishes a classified display ad from a regular classified ad?
A classified display ad includes graphics and is typically larger.
p.27
Staffing Strategy and Policies
What impact do changes in skill requirements have on staffing?
They necessitate adjustments in recruitment and training strategies.
What are support activities in staffing?
Activities that facilitate effective staffing, such as training and development.
p.37
Human Resource Planning (HRP)
What does the 2021 Population Census provide?
Key statistics related to the population and labor supply.
p.2
Objectives of People Resourcing
What should resourcing activities focus on?
Understanding the candidate experience, designing effective assessment and selection approaches, and making effective recruitment decisions.
p.15
Human Capital as a Resource
How does a good Person/Organization Fit affect employee retention?
It increases the likelihood of employees staying with the organization.
p.12
Human Resource Planning (HRP)
What role does attendance play in HR outcomes?
Consistent attendance is often linked to employee satisfaction and performance.
p.21
Staffing Strategy and Policies
What decision should a firm make regarding talent management?
Whether to replace or retain their talent.
p.104
Objectives of People Resourcing
What is a criticism regarding the focus of RJPs?
They may focus too much attention on the negatives of the job.
p.75
Job Analysis and Job Requirements
What is developed after finalizing KSAO?
Job Requirements (JR) and Job Descriptions (JD).
p.93
Recruitment Planning and Sources
What is the function of executive search firms?
To find candidates for high-level positions.
p.66
Job Analysis and Job Requirements
What should task statements focus on?
Recording tasks, not elements.
p.62
Job Analysis and Job Requirements
How is KSAO importance determined in a Job Requirements Matrix?
By assessing how essential each KSAO is for successful job performance.
p.1
People Resourcing and Strategy
What is the significance of talent management in People Resourcing?
It focuses on developing and retaining skilled employees to maintain competitive advantage.
p.120
Investment Companies and Mutual Funds
What is the trade-off between Class A and Class C shares?
The trade-off is between front-end loads versus 12b-1 charges.
p.9
Recruitment Planning and Sources
What are the two main types of recruitment?
External and internal recruitment.
p.110
Investment Companies and Mutual Funds
How do investors cash out in Closed-End Investment Companies?
By selling shares to new investors.
p.54
Human Resource Planning (HRP)
What is one method used in internal scanning?
Informal discussions with key managers.
p.6
Recruitment Planning and Sources
How do resourcing specialists promote the employer brand?
Using social media channels.
p.12
Human Capital as a Resource
How does motivation impact HR outcomes?
Higher motivation can lead to improved performance, retention, and job satisfaction.
p.44
Human Resource Planning (HRP)
What is the formula used in Regression Analysis for forecasting FTE?
FTE = a + b1 sales + b2 customers + b3 sections.
p.97
Recruitment Planning and Sources
What is a classified ad?
A type of advertisement that lists job openings in a specific section of a publication.
p.73
Job Analysis and Job Requirements
Which external sources can provide standards and guidelines for job requirements?
Professional Associations / Government Agencies.
p.26
Staffing Strategy and Policies
What is the significance of organizational strategy in staffing?
It reflects the expressed vision of executives and guides staffing decisions.
p.2
Human Resource Planning (HRP)
What data should be used in resourcing activities?
Relevant workforce planning data.
p.115
Investment Companies and Mutual Funds
What is the goal of flexible funds in relation to market performance?
To match the performance of a broad market index.
p.21
Staffing Strategy and Policies
What is the first strategic staffing decision a firm should consider?
Whether to have a core or flexible workforce.
p.17
Human Capital as a Resource
What is meant by long-term matches during the employment relationship?
The alignment of employee skills and organizational needs over time.
p.53
Human Resource Planning (HRP)
What is the significance of future prospects of the industry in candidate supply forecasting?
It helps predict the demand for talent and the potential need for outside candidates.
p.87
Recruitment Planning and Sources
What are the two types of recruitment structures mentioned?
Centralized and decentralized recruitment.
p.104
Objectives of People Resourcing
How might RJPs discourage potential employees?
They may discourage applicants who could learn to adapt to the job's challenges.
p.93
Recruitment Planning and Sources
What do employment agencies do in the recruitment process?
They help match candidates with job openings.
p.66
Job Analysis and Job Requirements
What is essential for the validity of the task list?
The list of tasks must be content valid and reliable.
p.26
Staffing Strategy and Policies
How does demand for products or services influence staffing?
It determines the need for hiring and resource allocation.
p.41
Human Resource Planning (HRP)
What role do technological changes play in forecasting personnel needs?
They can alter the skills required and the number of staff needed.
What does labor force statistics provide?
Data on the quantity and characteristics of the labor supply.
p.54
Human Resource Planning (HRP)
What type of surveys are conducted during internal scanning?
Employee attitude surveys.
p.6
Human Resource Planning (HRP)
What programs do resourcing specialists create for international hires?
Global mobility programs.
p.83
Objectives of People Resourcing
In what way does job analysis affect compensation?
It helps in determining compensation and benefits.
p.70
Human Capital as a Resource
What does the 'Skill' component of KSAOs refer to?
The proficiency in performing tasks.
p.97
Recruitment Planning and Sources
What is an online ad in the context of recruitment?
An advertisement posted on websites to attract job applicants.
p.54
Human Resource Planning (HRP)
Why is it important to assess managerial attitudes regarding HR?
To understand how management views HR practices and their impact on performance.
p.40
Employment Arrangements
What is the difference between regular work and shift work?
Regular work usually follows a standard schedule, while shift work involves varying hours, often outside the typical 9-5.
p.26
Staffing Strategy and Policies
What influence does management style have on staffing?
It affects how teams are built and how employees are managed.
p.40
Employment Arrangements
What are alternative employment arrangements?
Alternative employment arrangements include freelance, contract, and temporary work, differing from traditional employment.
p.40
Employment Arrangements
What are contingent workers?
Contingent workers are employees who do not have a permanent or full-time position, often working on a temporary basis.
p.21
Staffing Strategy and Policies
How should staffing be viewed in terms of financial impact?
As an investment or a cost.
p.21
Staffing Strategy and Policies
What type of workforce quality should firms look for?
Exceptional or acceptable workforce quality.
p.66
Job Analysis and Job Requirements
What elements should be mentioned in a task statement?
Materials, tools, procedures, or equipment used.
p.62
Job Analysis and Job Requirements
What does KSAO stand for?
Knowledge, Skills, Abilities, and Other characteristics.
p.62
Job Analysis and Job Requirements
What does the job context refer to in a Job Requirements Matrix?
The environment and conditions under which the job is performed.
p.61
Job Analysis and Job Requirements
What are the three basic aspects of a job identified in job analysis?
Job content, job requirements, and job context.
p.97
Recruitment Planning and Sources
How can social media be utilized in recruitment?
To reach a wider audience and engage potential candidates.
p.83
Human Capital as a Resource
How does job analysis contribute to employee development?
It informs training and development programs.
p.15
Human Capital as a Resource
How does Person/Organization Fit impact HR outcomes?
It affects attraction, performance, retention, attendance, and satisfaction.
p.95
Staffing Strategy and Policies
What is the relationship between source choice and HR satisfaction?
The choice of sources can significantly impact employee satisfaction.
p.26
Staffing Strategy and Policies
How do financial, marketing, and R&D goals affect staffing?
They guide the recruitment and allocation of human resources.
p.99
Recruitment Planning and Sources
What are legal factors that can affect the recruitment process?
Laws and regulations governing hiring practices.
p.94
Staffing Strategy and Policies
Why is internal recruitment considered cost effective?
It reduces hiring and training costs.
p.46
Staffing Strategy and Policies
What does the term 'promotion' refer to in the context of the transition probability matrix?
It refers to the movement from a lower job category to a higher one.
p.99
Recruitment Planning and Sources
How do social attitudes influence recruitment?
They shape perceptions of the organization and its job offerings.
p.56
Staffing Strategy and Policies
What can organizations do to utilize retired employees during a shortage?
Rehire retired employees.
p.70
Human Capital as a Resource
What are 'Other Characteristics' in KSAOs?
Personal traits or attributes relevant to job performance.
p.72
Job Analysis and Job Requirements
What is the purpose of prior information in collecting job requirements?
To provide context and background before gathering new data.
p.94
Staffing Strategy and Policies
How can external recruits act as change agents?
They can introduce new ideas and perspectives.
p.21
Staffing Strategy and Policies
What is the decision regarding the structure of staffing?
Whether staffing will be centralized or decentralized.
p.21
Staffing Strategy and Policies
Should firms acquire people with specific KSAOs or general competencies?
This is a strategic staffing decision to consider.
p.66
Job Analysis and Job Requirements
What type of verbs should be used in task statements?
Specific action verbs that have only one meaning.
p.93
Recruitment Planning and Sources
What role does a corporate website play in recruitment?
It serves as a platform to post job openings and company information.
p.20
Core Staffing Activities
What do core staffing activities focus on?
Recruitment, selection, and employment of the workforce.
p.57
Staffing Strategy and Policies
What is the primary goal of external staffing?
Bringing in talent from outside the organization.
p.46
Staffing System Components
What does the value 0.8 in the B2 row and B2 column indicate?
There is an 80% probability of staying in the same job category B2.
p.94
Staffing Strategy and Policies
What is a benefit of internal recruits regarding training?
Less training and adjustment is needed.
p.9
Staffing Organizations Model
What does the staffing organizations model encompass?
The integration of staffing strategies with organizational vision and mission.
p.37
Staffing Strategy and Policies
Why are labor force trends important for staffing?
They help organizations understand the availability and suitability of potential employees.
p.54
Human Resource Planning (HRP)
What is the purpose of identifying nagging personnel problems?
To address ongoing issues that may affect HR performance.
p.70
Human Capital as a Resource
What is meant by 'Ability' in KSAOs?
The capacity to perform tasks or activities.
p.12
Performance Management
What factors contribute to employee performance?
Person/Job Fit, motivation, and KSAOs are key contributors.
p.46
Staffing Strategy and Policies
What does 'demotion' mean in the context of the transition probability matrix?
It refers to the movement from a higher job category to a lower one.
p.70
Job Analysis and Job Requirements
What factors are considered in the job context?
Work setting, work attire, body positioning, environmental conditions, job hazards.
p.104
Objectives of People Resourcing
What emotional benefit can RJPs develop?
They can develop feelings of trust.
p.70
Human Capital as a Resource
What role does education play in KSAOs?
It provides the foundational knowledge necessary for job performance.
p.75
Job Analysis and Job Requirements
What follows the review of task statements?
Finalize task statements.
p.93
Recruitment Planning and Sources
What role do social networking sites play in recruitment?
They are platforms for connecting with potential candidates.
p.62
Job Analysis and Job Requirements
What is meant by 'importance of tasks/dimensions' in a Job Requirements Matrix?
It refers to how critical each task or dimension is to the job's overall success.
p.41
Human Resource Planning (HRP)
Why are financial resources important in staffing plans?
They dictate the budget available for hiring and maintaining staff.
p.110
Investment Companies and Mutual Funds
What type of market do Mutual Funds operate in?
More active secondary market.
p.50
Human Resource Planning (HRP)
What do personnel replacement charts illustrate?
They show potential replacements for key positions within the organization.
p.53
Human Resource Planning (HRP)
Why is the number of graduates important in forecasting candidate supply?
It indicates the potential pool of new candidates entering the job market.
p.97
Recruitment Planning and Sources
How do organizational websites contribute to recruitment?
They provide detailed information about job openings and the company.
p.104
Objectives of People Resourcing
How do RJPs affect expectations about the job?
They set more realistic expectations that are more likely to be met.
p.2
Recruitment Planning and Sources
What tools can be used to tap into diverse candidate pools?
Relevant sourcing approaches and digital tools.
p.21
Staffing Strategy and Policies
What should firms assess regarding skills in staffing?
What levels of which skills are needed and where.
p.93
Recruitment Planning and Sources
What is a common method for recruitment that involves current employees?
Employee referrals and networks.
p.21
Staffing Strategy and Policies
What approach to diversity should firms consider in staffing?
Whether to engage in active or passive diversity.
p.93
Recruitment Planning and Sources
What is the purpose of job fairs?
To connect employers with potential job candidates.
p.8
Objectives of People Resourcing
What is the ultimate goal of staffing?
To ensure the organization has a workforce that positively impacts its effectiveness.
p.20
Staffing System Components
What does staffing and retention system management involve?
A long-term decision process.
p.57
Staffing Strategy and Policies
What are the advantages of internal staffing?
Familiarity with the organization and reduced onboarding time.
p.46
Staffing System Components
What is the significance of the exit probabilities in the transition probability matrix?
They indicate the likelihood of leaving the job category altogether.
p.40
Staffing Strategy and Policies
What characterizes a 'loose' labor market?
A loose labor market is characterized by high unemployment and an oversupply of workers.
p.56
Staffing Strategy and Policies
What is a strategy to retain employees during a surplus?
Offering retirement incentives.
p.27
Staffing Strategy and Policies
How can technology influence staffing?
By changing job roles and skill requirements, and creating new job opportunities.
p.53
Human Resource Planning (HRP)
What role do competitors play in forecasting the supply of outside candidates?
The number of competitors can affect the availability of candidates as they may attract similar talent.
p.97
Recruitment Planning and Sources
How can radio be used in recruitment?
By broadcasting job advertisements to reach potential candidates.
p.40
Staffing Strategy and Policies
What is the usage of alternative employment arrangements?
The usage of alternative employment arrangements allows organizations to be flexible and adapt to changing labor needs.
p.76
Human Capital as a Resource
What is a competency?
An underlying characteristic of an individual contributing to job or role performance and organizational success.
p.66
Job Analysis and Job Requirements
What is the starting point of a task statement?
A specific verb that describes what the employee does.
p.95
Staffing Strategy and Policies
How does the choice of sources affect employee performance?
It can influence overall performance outcomes.
p.12
Human Capital as a Resource
What is the relationship between job satisfaction and retention?
Higher job satisfaction typically leads to higher retention rates.
p.15
Human Capital as a Resource
Why is motivation important in the context of Person/Organization Fit?
It influences job satisfaction and overall performance.
p.40
Employment Arrangements
What are the differences between full-time and part-time employment?
Full-time employment typically involves a standard workweek, while part-time employment involves fewer hours.
p.72
Job Analysis and Job Requirements
What is a combined method in the context of collecting job requirements?
Using multiple methods together, such as interviews and questionnaires.
p.90
Recruitment Planning and Sources
What is important for maintaining recruitment efficiency?
Process flow and record keeping.
p.2
Human Capital as a Resource
What factors should be considered in resourcing?
The labor market, the organization’s market position, the unique people proposition, and job analysis.
p.75
Job Analysis and Job Requirements
What is the first step in the Job Analysis (JA) process?
Discuss the JA project with managers.
p.75
Job Analysis and Job Requirements
What is formulated after finalizing task statements?
Task dimensions, assigning tasks, and time.
p.93
Recruitment Planning and Sources
How do professional associations contribute to recruitment?
They provide networking opportunities and job postings.
p.93
Recruitment Planning and Sources
How do internships serve as a recruitment source?
They provide a way for employers to evaluate potential employees.
p.50
Human Resource Planning (HRP)
What is a position replacement card?
A tool used to track potential candidates for specific job positions.
p.15
Staffing Strategy and Policies
What is the relationship between job duties and future jobs?
Understanding current job duties can help in planning for future job roles.
p.12
Recruitment Planning and Sources
How does attraction relate to job fit?
Attraction is influenced by how well a candidate perceives their fit with the job.
p.97
Recruitment Planning and Sources
What role does e-mail play in recruitment?
It is used to communicate job openings and application details to candidates.
p.26
Staffing Strategy and Policies
What is the role of organizational culture in staffing?
It shapes the type of candidates that fit within the organization.
p.75
Job Analysis and Job Requirements
What should be gathered after discussing the JA project?
Existing job information.
p.21
Staffing Strategy and Policies
Which jobs should firms focus on in their staffing strategy?
This is a critical question in strategic staffing decisions.
p.21
Staffing Strategy and Policies
What staffing level decision should firms consider?
Whether to overstaff or understaff.
p.93
Recruitment Planning and Sources
What services does the Labor Department provide for recruitment?
Employment services to connect job seekers with employers.
p.2
Objectives of People Resourcing
What does resourcing involve?
Attraction and recruitment of individuals into the right role at the right time and cost.
p.90
Recruitment Planning and Sources
What is an example of a specific recruitment guide?
Recruitment Guide for Director of Claims.
p.36
Person/Job Fit and Person/Organization Fit
What is the difference between hard skills and soft skills?
Hard skills are technical abilities, while soft skills are interpersonal skills.
p.17
Human Resource Planning (HRP)
What are future jobs in the context of employment?
Positions that may emerge as the organization grows and changes.
p.104
Objectives of People Resourcing
What is one benefit of Realistic Job Previews (RJPs)?
They prepare employees for what is to come on the job.
p.21
Staffing Strategy and Policies
Should a firm hire internally or externally?
This is one of the strategic staffing decisions to consider.
p.70
Job Analysis and Job Requirements
Why is attention to detail important in a job context?
It ensures accuracy and quality in work performance.
p.104
Objectives of People Resourcing
What is a potential downside of RJPs for organizations?
They can put an organization at an unfair disadvantage compared to others promoting only positive aspects.
p.75
Job Analysis and Job Requirements
What is inferred after formulating task dimensions?
Necessary KSAO (Knowledge, Skills, Abilities, and Other characteristics).
p.93
Recruitment Planning and Sources
Which recruitment source helps connect students with job opportunities?
University Career Centers/Career service Units.
p.66
Job Analysis and Job Requirements
How should the accuracy of task statements be evaluated?
It cannot be evaluated against external criteria.
p.26
Staffing Strategy and Policies
How does organization structure impact staffing?
It determines the hierarchy and roles needed within the organization.
p.87
Recruitment Planning and Sources
What is the difference between in-house and external recruitment?
In-house recruitment is conducted by the company's own staff, while external recruitment involves hiring agencies.
p.94
Staffing Strategy and Policies
What advantage does external recruitment bring in terms of talent?
It brings in new talents.
p.2
Job Analysis and Job Requirements
Why is job analysis important in resourcing?
To ensure roles are engaging to a wide range of people.
p.70
Job Analysis and Job Requirements
How does physical ability relate to job requirements?
It determines the capacity to perform physically demanding tasks.
p.21
Staffing Strategy and Policies
Should staffing be proactive or reactive?
This is a strategic decision firms need to make.
p.76
Human Capital as a Resource
How do competencies relate to KSAOs?
Competencies have similarities to KSAOs but differ in their broader application to multiple jobs and organizational success.
p.66
Job Analysis and Job Requirements
What should a task statement indicate about the employee's actions?
To whom or what the employee does what he/she does.
p.62
Job Analysis and Job Requirements
What is the purpose of a Job Requirements Matrix?
To outline the tasks, dimensions, and requirements for a specific job role.
p.66
Job Analysis and Job Requirements
Who should analysts include when creating task statements?
A manager and an incumbent.
p.44
Human Resource Planning (HRP)
What does a scatter plot show in HR forecasting?
Projected staff size against hospital size (number of beds).
p.94
Staffing Strategy and Policies
What is a pro of external recruitment?
It provides a greater selection pool.
p.53
Human Resource Planning (HRP)
How do economic development trends impact the supply of outside candidates?
They can indicate growth or decline in industries, affecting job availability and candidate supply.
p.56
Staffing Strategy and Policies
How can organizations address a shortage through employee development?
Retraining existing employees.
p.21
Staffing Strategy and Policies
What is a key consideration regarding skill acquisition in staffing?
Whether to hire for or train and develop needed skills.
p.90
Recruitment Planning and Sources
What is a significant concern in global recruitment?
High costs, such as hotel and travel fees.
p.93
Recruitment Planning and Sources
What are unsolicited recruitment sources?
Candidates who apply without being prompted by a job advertisement.
p.76
Human Capital as a Resource
What is a key difference between competencies and KSAOs?
Competencies may contribute to success on multiple jobs, while KSAOs are typically job-specific.
p.66
Job Analysis and Job Requirements
What should be included in a task statement regarding output?
What is produced, indicating expected output.
p.62
Job Analysis and Job Requirements
What are task statements in the context of a Job Requirements Matrix?
Descriptions of specific tasks that need to be performed in a job.
