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How do you determine compa-ratio?
By dividing the pay of the employee by the midpoint of the range. If the compa-ratio is below 1.00, then the wage rate is below the midpoint. If the compa-ratio is greater than 1.00, the wage rate is greater than the midpoint.
How do you calculate retention rate?
The retention rate is calculated by dividing the number of employees who remained employed (85) by the number of employees who were employed at the beginning of the time being measured (100).
What is an ATS?
An ATS (applicant tracking system) is used to organize and track certain components of the recruitment process, such as tracking whether all of the necessary information has been submitted.
What is pay banding?
Establishing a salary range for jobs in a certain grade
What are remuneration surveys?
Remuneration surveys are used to evaluate the full scope of direct and indirect compensation paid to employees, which includes base pay, PTA, and benefit entitlements
Who is the 7 dimensions of culture developed by?
According to Trompenaars achievement v. ascription, individualism v. communitarianism, internal direction v. external direction, sequential time v. synchronous time, specific v. diffuse, and universalism v. particularism are the 7 dimensions of culture that can be used to better understand people from various backgrounds.
How do you determine recruitment cost ratio?
The RCR (recruitment cost ratio) is calculated by adding the external costs ($25,000) to the internal costs ($25,000), dividing that figure by the annual compensation ($250,000), and multiplying it by 100.
Which cultural theorist was responsible for developing the low-context and high-context approach to understanding how different cultures may impact a global organization
Edward T. Hall
Geert Hofstede developed a theory outlining six dimensions of culture, while Blake-Mouton and Hershey-Blanchard developed leadership theories.
How do you calculate profit margin?
If you subtract the total costs of your products from the total sales, and divide that figure by total sales
What is it called if you subtract the cost of goods sold from total sales and dividing it by total sales?
Gross margin
What is it called when you subtract the cost of investment from the gain from the investment, then dividing that figure by the cost of the investment?
ROI
Who is protected under the ADEA Age Discrimination in Employment Act?
prohibits age discrimination against individuals who are 40 years of age and older. The ADEA does not provide protection to individuals who are less than 40 years old.
All HR personnel located within HR department; delivers services to entire organization.
Centralized structure
HR staff within each function, business unit, or location carrying out required activities.
Decentralized structure
Headquarters HR is staffed with specialists who craft policies. HR generalists, who may be located within divisions or other locales, implement these policies, adapt them as needed, and interact with employees.
Functional structure
Allows organizations with different strategies in multiple units to apply HR expertise to each unit’s specific strategic needs.
Dedicated structure
Each business unit can supplement its resources by selecting what it needs from a menu of shared HR services (usually transactional) that the units agree to share.
Shared services
Leverages strategic expertise to foster growth and continuous improvement.
Centers of Excellence
Generalists who usually report to managers outside of the HR structure but indirectly report to HR and work to consult and help link their business area to the proper areas of the HR department.
Business Partners
HR staff report directly to HR senior management but also report to other departments through the senior management positions.
Matrix
What is cosourcing?
Can be more expensive than outsourcing but there’s more control over the contractor.
Access to one’s private life is granted when there is trust, work and private life is mixed. This is an example of what type of culture?
Diffuse culture
A statement’s meaning include verbals and non verbals and social and historic content attached to the statement
High context culture
A statement’s meaning is encoded in its words only
Low context culture
The culture made me do it. Absolved individuals of any responsibility.
Cultural determinism
There are no absolutes, everything varies based on the situation and cultural perspective. Everything is relative
Cultural relativism
Based on written codes approved by legislative bodies. These regulations have the force of law
Civil law
Based on legal precedent. Each case considered in terms of how it related to judicial decisions already made. Can change gradually.
Common law
Identifies strengths, opportunities, aspirations, and results.
Soar analysis
An org identifies specific people and refers them to a staffing firm who employs them and assigns them to work at the org. Lower cost
Payrolling
Joint venture, org transfers all or almost all employees at a discrete site to the payroll of an employee leasing firm. Employees are then leased back to the org while handling payroll & benefits
PEO or employee leasing
Refusal by workers to work and also leave their workstations making it impossible for employers to use replacement workers
Sit down strike
Action taken in support of another union that is striking an employer
Sympathy strike
-contracts can include provisions prohibiting sympathy strikes
Work stoppages at union contract places that haven’t been approved by the union
Wildcat strike
Attempt by a union to influence an employer by putting pressure on another employer- like a supplier
Secondary action or boycott
Workers slow processes by performing tasks exactly to specifications or according to jds
Work to Rule
Workers refuse overtime adhering to hours stipulated in the contract
Overtime ban
Requirement by an employee to complete a PIP or attend counseling or anger management
Positive punishment
Removal of a valuable stimulus- withholding a promotion, or training opportunity, or imposing suspension without pay
Negative punishment
The first fully negotiated multilateral trade accord; considered the start of modern global commerce.
Bretton Woods Agreement
An employee who is reassigned to an international location
International assignee
Statistical method used to determine whether a relationship exists between variables and the strength of the relationship.
Regression analysis
Depicts the sorting of data into groups arranged in the shape of a statistical distribution showing a central tendency and dispersion around it,
-can show comparisons over time
Histogram
Plots data points on two axes- horizontal equals time vertical volume
Trend diagram
Applies principle that 80% of effects come from 20% of causes.
Ranked from left to right alone x axis are categories
Y axis shows reference ranges
Pareto chart
Data points plotted on your and x axes showing two variables. The pattern formed shows the correlation
Scatter diagram
