NRNP6635 FINAL EXAM VERSION 6
COMPREHENSIVE STUDY SHEET 2026
QUESTIONS WITH SOLUTIONS GRADED A+
◉ Forecasting Demand. Answer: Consider how much labor will we
need
Benchmarking, statistical methods, subject matter experts (educated
guesses)
◉ Forecasting Supply. Answer: Consider how much labor will we
have
Requires us to anticipate how people will move up through (and out
of) the company. We do this using a Transitional Matrix.
Also requires us to examine our business environment by asking
these questions:
What's the unemployment rate?
Is that likely to change?
What is the overall size of our labor pool?
Are people training for the jobs for which we anticipate vacancies?
◉ Surplus vs. shortage in supply and demand forecasting. Answer:
Comparing the results of demand and supply forecasting tells us
whether we're likely to have a surplus or a shortage.
,Depending on which one we forecast, we plan to implement various
strategies for creating equilibrium.
◉ Methods for correcting a surplus. Answer: Downsize
Reduce pay
Demotions
Transfers
Early retirement
Wait for natural attrition
Hiring freeze
◉ Downsizing. Answer: Companies choose this strategy when:
- Attempting to reduce costs
- Closing or altering production facilities
- Outsourcing and offshoring for economic reasons
Human suffering is high
- Financial and psychological damage - Which is worse?
- Damage to future employment chances over time
- Skill erosion
, ◉ Drawbacks of downsizing. Answer: - Often irreplaceable people
are let go
- Survivors just work harder
- Survivors become disillusioned
◉ Methods for correcting a shortage. Answer: - Existing people work
harder
- Use temporary employees
- Outsource
- Promote from within
- Decrease voluntary turnover
- Recruit and hire new people
◉ Workforce. Answer: An enterprise's employees
◉ Labor Force. Answer: The pool of potential employees from which
the firm attracts and hires its workforce
◉ Challenges of international staffing. Answer: Availability of data
- IHR professionals must often develop such data from independent
sources.
- MNEs should not make the assumption that local labor forces will
be adequate to provide the talent they need.
COMPREHENSIVE STUDY SHEET 2026
QUESTIONS WITH SOLUTIONS GRADED A+
◉ Forecasting Demand. Answer: Consider how much labor will we
need
Benchmarking, statistical methods, subject matter experts (educated
guesses)
◉ Forecasting Supply. Answer: Consider how much labor will we
have
Requires us to anticipate how people will move up through (and out
of) the company. We do this using a Transitional Matrix.
Also requires us to examine our business environment by asking
these questions:
What's the unemployment rate?
Is that likely to change?
What is the overall size of our labor pool?
Are people training for the jobs for which we anticipate vacancies?
◉ Surplus vs. shortage in supply and demand forecasting. Answer:
Comparing the results of demand and supply forecasting tells us
whether we're likely to have a surplus or a shortage.
,Depending on which one we forecast, we plan to implement various
strategies for creating equilibrium.
◉ Methods for correcting a surplus. Answer: Downsize
Reduce pay
Demotions
Transfers
Early retirement
Wait for natural attrition
Hiring freeze
◉ Downsizing. Answer: Companies choose this strategy when:
- Attempting to reduce costs
- Closing or altering production facilities
- Outsourcing and offshoring for economic reasons
Human suffering is high
- Financial and psychological damage - Which is worse?
- Damage to future employment chances over time
- Skill erosion
, ◉ Drawbacks of downsizing. Answer: - Often irreplaceable people
are let go
- Survivors just work harder
- Survivors become disillusioned
◉ Methods for correcting a shortage. Answer: - Existing people work
harder
- Use temporary employees
- Outsource
- Promote from within
- Decrease voluntary turnover
- Recruit and hire new people
◉ Workforce. Answer: An enterprise's employees
◉ Labor Force. Answer: The pool of potential employees from which
the firm attracts and hires its workforce
◉ Challenges of international staffing. Answer: Availability of data
- IHR professionals must often develop such data from independent
sources.
- MNEs should not make the assumption that local labor forces will
be adequate to provide the talent they need.
