To Study Flashcards
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
