Topic Five, Part 6 - Labour Turnover Flashcards
What do managers need to know about the workforce?
- Their motivation, productivity
- Do policies meet business goals
How is performance measured?
Analyse a series of indicators to judge effectiveness of HR planning
What are the 4 key performance indicators?
- Labour productivity
- Absenteeism
- Lateness
- Labour turnover
What is the formula for labour productivity?
Output per period of time (day,week,month) / Average number of employees
What is long term absence?
when an employee is off for a lengthy period usually down to illness
What is short term absence?
An employee is absent for a few days or less because of a minor issue.
How can businesses handle policies?
Clear and consistent absence policy on allowable absence to treat everyone the same.
What is the formula for absenteeism rate?
Absence / number of staff x total number of possible working days x 100
What are the herzberg motivators?
Employee motivations e.g. achievement, advancement, recognition
What costs from absenteeism?
- Lost production
- Extra overtime
- Increased levels of absenteeism
How can businesses reduce absenteeism?
- Job enrichment
- Improve working conditions
- Improved human relations
What is the formula for lateness?
Total number of lates/ total number of schedules arrivals x 100
What is the formula for wastage rates?
Items scrapped / items produced x 100
What is labour turnover?
The percentage of staff leaving a business within a time period.
What is the formula for labour turnover?
No of staff leaving / Number of staff employed x 100