Employee Performance Calculations Flashcards
What is performance appraisal?
Annual review, checking employee successfulness in meeting a set criteria
What is self assessment appraisal?
Assessed with a simple tick sheet on how well they think they have done
What is 360° appraisal
Appraise receive feedback from several people
What is peer assessment?
Colleagues assess the performance of other colleagues
Give two benefits of performance appraisal
Performance improvement
Career growth
Increases employee engagement
Give two disadvantages of performance appraisal
Can sometimes be biased
Generalisations
What is labour turnover
Number of employees, leaving a business in a particular time
What is the formula for labour turnover?
Number of employees left in a year / average number employed
X100
What is labour stability index?
Measure number of experience staff retained over period time
What is the formula for labour stability index?
Number of employees with 1+ years experience/ number of employees one year ago
X100
What is absenteeism?
Absence from Work, either short or long-term
What is the formula for absenteeism?
Total days absent in a month / total working days in a month
X100
What are wasted rates?
Amount of wasted created by employees
What is the formula for wastage rate?
Number of rejects produced by a department / number of units produced
X100
Give tea limitations of quantitative data
Figures don’t explain situations
Languages can be misleading / hide anomalies
Single figures in isolation are meaningless
