Competency Modeling Is Useful for Which of the Following Applications

question 31

Multiple Choice

Competency modeling is useful for which of the following applications?

• A) Identifying needs for replacement and succession planning
• B) Internal promotion processes
• C) Facilitating the HR planning process
• D) All of the above

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Definitions:

Labor Force

The total number of people who are willing and eligible to work, including both the employed and those seeking employment.

GDP

The Gross Domestic Product, or GDP, is a metric that captures the entire value of goods and services generated within a country over a set period, serving as a gauge of its economic performance.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of all goods and services produced by an economy in a specific period, using constant prices.

Inflation

A comprehensive increase in the cost of goods and services and a depreciation in money's worth.