Labour calculations

    0
    15

    Labour calculations

    Human Resources:

    • Labour productivity:  labour productivity is defined as output per worker:
    • Labour productivity = total output per period of time// average number of employees
    • Labour turnover: labour or stuff turnover is another measure of personal effectiveness. Labour turnover is the proportion of staff leaving a business over a period of time is measured by the formula:
    • Labour turnover =number of Staff left/average number of Staff in post during the period
    • Labour retention: labour retention the proportion of staff who stay in post
    • Labour retention= number of staff staying/ average number of Staff in post
    • Absenteeism:  number of Staff absent
    • Absenteeism = number of Staff absent on a day/ total number of Staff employed
    • Strategies to increase productivity and retention and reduced turnover and absenteeism:
      • Financial rewards:
      • Employee share ownership
      • Consultation strategies:
        • Pseudo consultation – managers inform employees
        • Classical consultation- employees are included via representatives
        • Integrative consultation- a joint decision is made between unions and management
      • Empowerment strategies:
        • Training
        • Provide the necessary resources
        • Hand over authority
        • Inspire confidence
        • Provide feedback

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here