BU 3.5.3 human resources

Question 1

human resources definition

Answer 1

data is quantifiable that can be used to measure workforce performance. This will help inform decision making

Question 2

what does human resource data include

Answer 2

-labour productivity
-labour turnover and retention
-absenteeism

Question 3

define labour productivity

Answer 3

Labour productivity is a measure of a workforce performance that looks at output per worker.

Question 4

Labour productivity formula

Answer 4

Total output/Number of workers

Question 5

labour turnover definition

Answer 5

the rate of change in a firms labour force

Question 6

labour turnover formula

Answer 6

number of staff leaving/average number of staff × 100

Question 7

retention rates

Answer 7

are a measure of a firm’s ability to keep its workforce within the business normally for more than one year

Question 8

formula for retention rates

Answer 8

number of employees serving for more than 1 year/average number of staff ×100

Question 9

how may a low retention rate present a threat to a business

Answer 9

-high recruitment, selection and training costs
-risks of loss of important information
-loss of talent

Question 10

absenteeism formula

Answer 10

number of staff absent per time period/total number of staff days worked per time period ×100

Question 11

absenteeism definition

Answer 11

number of staff who miss work as a proportion of the total number of staff