Chapter 6:

Methods of Modelling the Supply of Human Capital

o Why do organizations prefer to hire an employee from within the organization rather than from outside the organization?

o What is another name for the vacancy model?

o What is the Markov Model? o Understand the order of steps in an HR supply analysis o What is a skills analysis?

o Definition of retention o What is a hard cost, and what is a soft cost?

o What is another name for the upward mobility rate?

o What is the normal planning time horizon for a movement analysis?

HR Supply Programs o Which of the following HR practices contributes to the mass customizing of the employ-ment experience?

o The textbook discusses various mechanisms that influence the external supply of human capital. Which of the following is one of these influences?

Substitution and Other Gap Strategies

o What is an HR surplus? HR shortage? HR scarcity? HR supply?

o An organization has made errors in estimates of human resource supply that have become amplified as those errors are compounded along the supply chain. What term defines this occurrence?

Segmenting the Internal Supply of Human Capital o A company is in a situation in which the supply of a particular form of human capital available to the firm is inadequate to address the demand. What is this circumstance called?