19 Human Resources Flashcards
Define labour productivity
output per worker in a given time period
Formula for labour productivity
total output per period of time/average number of employees per period of time
Define labour retention
Rate at which staff stay in the business
Formula labour turnover
number of staff staying over time/average number of staff in post in the time period x 100
Define absenteeism
where workers fail to turn up for work without good reason.
Formula annual absenteeism rate
total number of staff absent over the year/total number of staff days that should have been worked x100
Define quality circles
where workers are given time to meet regularly to discuss work issues such as solving problems.
Define consultation
listening to the views and opinions of employees before making key decisions that affect them.
Define capital gain
the profit made from selling a share for more than it was bought for.
Define sharesave scheme
employees save some of their monthly pay for a fixed number of years and then at the end of the period employees can use the money saved to buy shares at a price that was fixed at the outset.
