Theme 3.5.3 Human Resources (HR) Flashcards
How is labour productivity calculated?
Output per period (units) / no of worker hours OR no. of employees at work
How is labour turnover calculated?
(no. of employees leaving during period / ave. no. of employed during period) x 100
How is labour retention calculated?
(no. of staff that stay (per period of time)/ average no. of employees (per period of time)) x 100
Identify 2 internal causes of high labour turnover
- Working conditions
- Standard of recruitment (e.g. don’t make it clear what the job entails during recruiting and interviewing)
Identify 2 external causes of high labour turnover
- Economic conditions e.g. leading to redundancies
- Bereavement/ maternity leave
Identify and explain 3 disadvantages of high labour turnover
- Higher costs (increased recruitment and training costs)
- Increased pressure on remaining staff (more responsibility)
- Disruption to production/ productivity, harder to maintain standards of quality and customer service
Identify and explain 3 advantages of high labour turnover
It gives the chance for new people to be brought into the business who may have fresh ideas and up to date market knowledge.
Workers with specialist knowledge or expertise can be employed rather than having to train up existing lower skilled employees.
Helps businesses stay competitive.
How is absenteeism calculated? FORMULA NO.1
(no. of staff absent during period/ no. employed during period)x 100
How is absenteeism calculated? FORMULA NO.2
(no. days taken off for unauthorised absence (during period)/ total days worked by workforce over the period) x 100
How might offering employee share ownership schemes help improve the performance of human resources?
It would give employees an incentive to come to work and to also increase productivity as by doing this, they are likely to be rewarded
How might consultation strategies be used to help improve the performance of human resources?
By consulting employees about their absenteeism, the company can find out why the employee is taking time off work and support the employee/ help sort out the problem. This could help improve performance of HR as they could decrease their absenteeism percentage
How might empowerment strategies be used to help improve the performance of human resources?
Empowerment strategies might be used to help improve the performance of HR by improving their skills and making sure they would be prepared for promotion. It can also improve morale, which can lead to increased labour productivity.
NEED TO FINISH THIS ONE: What 3 conditions are required for empowerment strategies to be effective?
….?
