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### 15 Cards in this Set

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 How do you calculate the turnover rate? # of employees at start of period + # of employees at period end divided by 2 = average. Divide number of exits by average number of employees. E.g. 250 + 150 = 400/2 = 200; 40 exits divided by 200 employees = 5% turnover rate. What is a Markov analysis? Analysis of movement within the organization based on jobs. What is a Ripple chart? Analysis of domino effect of vacancies likely to be created by exits, promotions, departures, changes based on individual employees What is a succession/replacement table? Identification of who can replace whom in the company, usually to three or four levels What is a succession/replacement chart? Identification of who can replace who based on performance and readiness and in what order, 2-3 levels down What is a staffing inventory? A snapshot in time of current HR supply What is succession planning? Identification of who is ready and performing at a level required to move into a senior vacancy 2-3 levels down. What is succession management? Strategies for ensuring performance and readiness for succession planning, includes talent management, training, performance management, etc. When should quantitative analysis for HR suppy or demand be used? When trends continue over time, historical and current data is available, and the organization is relatively stable. When should qualitative data for HR supply and demand be used? When there are no obvious trends or patterns, when little data is available, and when the future is uncertain. What is the independent variable in the regression/analysis HR planning technique? The fact on which a prediction is based. What is the predictor variable in the regression/analysis technique of HR demand planning? That which you seek to predict, e.g. HR future demand. What is the dependent variable in the regression/analysis technique of HR demand planning? The outcome you are trying to determine. Describe the four elements of the pincushion model for HR supply and demand planning. External current supply/demand Internal current supply/demand External future supply/demand Internal future supply/demand What is the Delphi technique? Way of anticipating HR demand by asking panel of SME's to answer a series of questions independently, without meeting face-to-face.