Workforce performance Flashcards
What is workforce performance
The measures a business uses to assess the effectiveness of the workforce in achieving targets
What is human resources data
Quantifiable information that can be used to measure workforce performance which helps with decision making
What are the three measures of workforce performance
Labour productivity, absenteeism and labour turnover
What is labour productivity (include formula)
A measure of workforce performance that looks at output per worker, total output / number of workers
What is absenteeism (include the formula)
The number of staff who miss work as a proportion of the total number of staff, number of staff absent per time period / total number of staff days worked over period of time x 100
What is labour turnover (include the formula)
The rate of change in a firms labour force, number of staff leaving / average number of staff x 100
How much does labour turnover cost Britain in one year
£4,130,000,000
