Parent Position functionality in Position Management

Summary

Need input/feedback on use of Parent Position when using Position Management

Content

I would like to get input from anyone who has used position management in Oracle HCM and the use of the "Parent Position" functionality -- which has to be established in the Manage Enterprise HCM Information task.

Does this allow use of positions that are not necessarily "tied" to a specific employee? 

Input appreciated ... thanks

Laurie Kresch