HCM 405- Section 2 Flashcards
Understand how to calculate an FTE for one year of time
One FTE= 8 hours/day, 40 hours/week, 2080 hours/year
If one FTE works 40 hours per week then how many hours would the FTE work in one year?
2080
How many hours are typically in a standard work week?
40 hours
Define Human Resources
the department that handles all personnel matters. Providing service and advice to other organizational elements—activities include conducting job analyses, planning labor needs and recruiting, job candidates, selecting job candidates, orienting and training new employees, managing compensations, providing incentives, appraising performance, training and development, building employee commitment
Define Full-time equivalent
a computed statistic representing the number of full-time employees that could have been employed if the reported number of hours worked by part-time employees had been worked by full-time employees.
Define Labor budget
schedule of expected labor costs
Define Productive hours
time actually completing activities
Define down time
the length of time lost during an operation because of non-scheduled stoppages such as failure, delay, etc
Define Nonproductive hours
time waiting to complete activity
Define Cross-functional training
training the employees to be multi-skilled and multi-talented
Define KSAs
Knowledge, skills, and abilities
Define goals
general broad statements about what an organization wants to accomplish
Define terminal objectives
end result of what we want the learner to achieve by the end of the course
Define enabling objectives
steps that must be achieved before the terminal objective can be met (must be 2 or more per terminal)
Define Intrinsic compensation
compensation that is rewarded internally such as enjoying the job in itself, motivation, responsibility and pride in work