Human resource data

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  • Created by: konradeke
  • Created on: 31-03-16 11:18
What is human resource data?
Quantifiable information that can measure workforce performance
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What are some examples of human resource data?
Labour turnover, Labour productivity, Employee costs as a percentage of turnover, Labour cost per unit
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What is labour turnover?
The rate of change in a firms workforce
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How do you calculate Labour turnover?
Number of staff leaving / Average number of staff X 100
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What are the problems with high labour turnover?
High training costs, loss of skilled workforce
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What are some benefits of a low labour turnover rate?
Low training costs, Maintains skilled workforce and doesn't lose highly trained workers to other businesses
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What is a retention rate?
The measure of a firm's ability to keep its workforce within the business normally for more than one year
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How do you calculate retention rate?
Number of employees serving more than 1 year / average number of staff X 100
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What is labour productivity?
Total output / Number of workers
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How do you calculate employee costs as a percentage of total revenue?
Employee costs / Revenue X 100
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What are labour costs per unit?
The average employee cost per unit of output
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What is the formula for labour costs per unit?
Total labour costs / Total output
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How can data be used to plan and make decisions?
Assess employee performance, Negotiate with trade unions, Inform decisions re redundancies if necessary
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What are some internal influences?
Current workforce, Performance data, Corporate objectives
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What are some external influences?
Current and future labour costs, Sales forecasts, Forecast migration, Cost and productivity of relevant production technology
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Card 2

Front

What are some examples of human resource data?

Back

Labour turnover, Labour productivity, Employee costs as a percentage of turnover, Labour cost per unit

Card 3

Front

What is labour turnover?

Back

Preview of the front of card 3

Card 4

Front

How do you calculate Labour turnover?

Back

Preview of the front of card 4

Card 5

Front

What are the problems with high labour turnover?

Back

Preview of the front of card 5
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