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Find out labour turn over ratio by applying: 1.flux method 2. Replacement method 3. Separation method No. Of workers' on the payroll At the beginning of month :- 500 During end of month:- 600 During the month, 5 workers left , 20 persons were discharged and 75 workers were recruited. Of these 10 workers were recruited in the vacancies of those leaving ,while the rest were engaged in expansion scheme?
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Find out labour turn over ratio by applying: 1.flux method 2. Replacem...
Labour Turnover Ratio Calculation:
Labour turnover ratio is calculated to determine the number of employees leaving the organization during a specific period. It is calculated by using the following formula:
Labour Turnover Ratio = (Number of Employees Leaving / Average Number of Employees) x 100
Where,
Number of Employees Leaving = No. of workers left + No. of workers discharged
Average Number of Employees = (No. of workers on payroll at the beginning of the month + No. of workers on payroll at the end of the month) / 2
Given the following data, we can calculate the Labour Turnover Ratio using three different methods:
No. of workers on the payroll at the beginning of month: 500
During end of month: 600
During the month, 5 workers left, 20 persons were discharged, and 75 workers were recruited. Of these, 10 workers were recruited in the vacancies of those leaving, while the rest were engaged in the expansion scheme.
1. Flux Method:
The Flux Method is one of the methods used to calculate the Labour Turnover Ratio. It is also known as the Replacement Method or Replacement Cost Method. This method calculates the cost of replacing the employees who left during the period.
To calculate the Labour Turnover Ratio using the Flux Method, we need to follow the below steps:
Step 1: Calculate the Average Number of Employees
Average Number of Employees = (No. of workers on payroll at the beginning of the month + No. of workers on payroll at the end of the month) / 2
Average Number of Employees = (500 + 600) / 2
Average Number of Employees = 550
Step 2: Calculate the Number of Employees Leaving
Number of Employees Leaving = No. of workers left + No. of workers discharged
Number of Employees Leaving = 5 + 20
Number of Employees Leaving = 25
Step 3: Calculate the Cost of Replacing the Employees
Cost of Replacing the Employees = (Number of Employees Leaving / Average Number of Employees) x 100
Cost of Replacing the Employees = (25 / 550) x 100
Cost of Replacing the Employees = 4.54%
Hence, the Labour Turnover Ratio using the Flux Method is 4.54%.
2. Replacement Method:
The Replacement Method is another method used to calculate the Labour Turnover Ratio. This method calculates the number of employees who left during the period and were replaced by new employees.
To calculate the Labour Turnover Ratio using the Replacement Method, we need to follow the below steps:
Step 1: Calculate the Average Number of Employees
Average Number of Employees = (No. of workers on payroll at the beginning of the month + No. of workers on payroll at the end of the month) / 2
Average Number of Employees = (500 + 600) / 2
Average Number of Employees = 550
Step 2: Calculate the Number of Employees Leaving
Number of Employees Leaving = No. of workers left + No. of workers discharged
Number of Employees Leaving = 5 + 20
Number of Employees Leaving = 25
Step 3: Calculate the Number of Employees Replaced
Number of Employees Replaced = Total No. of Recruits - No. of Vacancies Filled
Number of Employees Replaced = 75 - 10
Number of Employees Replaced = 65
Step
Labour turnover ratio is calculated to determine the number of employees leaving the organization during a specific period. It is calculated by using the following formula:
Labour Turnover Ratio = (Number of Employees Leaving / Average Number of Employees) x 100
Where,
Number of Employees Leaving = No. of workers left + No. of workers discharged
Average Number of Employees = (No. of workers on payroll at the beginning of the month + No. of workers on payroll at the end of the month) / 2
Given the following data, we can calculate the Labour Turnover Ratio using three different methods:
No. of workers on the payroll at the beginning of month: 500
During end of month: 600
During the month, 5 workers left, 20 persons were discharged, and 75 workers were recruited. Of these, 10 workers were recruited in the vacancies of those leaving, while the rest were engaged in the expansion scheme.
1. Flux Method:
The Flux Method is one of the methods used to calculate the Labour Turnover Ratio. It is also known as the Replacement Method or Replacement Cost Method. This method calculates the cost of replacing the employees who left during the period.
To calculate the Labour Turnover Ratio using the Flux Method, we need to follow the below steps:
Step 1: Calculate the Average Number of Employees
Average Number of Employees = (No. of workers on payroll at the beginning of the month + No. of workers on payroll at the end of the month) / 2
Average Number of Employees = (500 + 600) / 2
Average Number of Employees = 550
Step 2: Calculate the Number of Employees Leaving
Number of Employees Leaving = No. of workers left + No. of workers discharged
Number of Employees Leaving = 5 + 20
Number of Employees Leaving = 25
Step 3: Calculate the Cost of Replacing the Employees
Cost of Replacing the Employees = (Number of Employees Leaving / Average Number of Employees) x 100
Cost of Replacing the Employees = (25 / 550) x 100
Cost of Replacing the Employees = 4.54%
Hence, the Labour Turnover Ratio using the Flux Method is 4.54%.
2. Replacement Method:
The Replacement Method is another method used to calculate the Labour Turnover Ratio. This method calculates the number of employees who left during the period and were replaced by new employees.
To calculate the Labour Turnover Ratio using the Replacement Method, we need to follow the below steps:
Step 1: Calculate the Average Number of Employees
Average Number of Employees = (No. of workers on payroll at the beginning of the month + No. of workers on payroll at the end of the month) / 2
Average Number of Employees = (500 + 600) / 2
Average Number of Employees = 550
Step 2: Calculate the Number of Employees Leaving
Number of Employees Leaving = No. of workers left + No. of workers discharged
Number of Employees Leaving = 5 + 20
Number of Employees Leaving = 25
Step 3: Calculate the Number of Employees Replaced
Number of Employees Replaced = Total No. of Recruits - No. of Vacancies Filled
Number of Employees Replaced = 75 - 10
Number of Employees Replaced = 65
Step
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Find out labour turn over ratio by applying: 1.flux method 2. Replacement method 3. Separation method No. Of workers' on the payroll At the beginning of month :- 500 During end of month:- 600 During the month, 5 workers left , 20 persons were discharged and 75 workers were recruited. Of these 10 workers were recruited in the vacancies of those leaving ,while the rest were engaged in expansion scheme?
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Find out labour turn over ratio by applying: 1.flux method 2. Replacement method 3. Separation method No. Of workers' on the payroll At the beginning of month :- 500 During end of month:- 600 During the month, 5 workers left , 20 persons were discharged and 75 workers were recruited. Of these 10 workers were recruited in the vacancies of those leaving ,while the rest were engaged in expansion scheme? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Find out labour turn over ratio by applying: 1.flux method 2. Replacement method 3. Separation method No. Of workers' on the payroll At the beginning of month :- 500 During end of month:- 600 During the month, 5 workers left , 20 persons were discharged and 75 workers were recruited. Of these 10 workers were recruited in the vacancies of those leaving ,while the rest were engaged in expansion scheme? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find out labour turn over ratio by applying: 1.flux method 2. Replacement method 3. Separation method No. Of workers' on the payroll At the beginning of month :- 500 During end of month:- 600 During the month, 5 workers left , 20 persons were discharged and 75 workers were recruited. Of these 10 workers were recruited in the vacancies of those leaving ,while the rest were engaged in expansion scheme?.
Find out labour turn over ratio by applying: 1.flux method 2. Replacement method 3. Separation method No. Of workers' on the payroll At the beginning of month :- 500 During end of month:- 600 During the month, 5 workers left , 20 persons were discharged and 75 workers were recruited. Of these 10 workers were recruited in the vacancies of those leaving ,while the rest were engaged in expansion scheme? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Find out labour turn over ratio by applying: 1.flux method 2. Replacement method 3. Separation method No. Of workers' on the payroll At the beginning of month :- 500 During end of month:- 600 During the month, 5 workers left , 20 persons were discharged and 75 workers were recruited. Of these 10 workers were recruited in the vacancies of those leaving ,while the rest were engaged in expansion scheme? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find out labour turn over ratio by applying: 1.flux method 2. Replacement method 3. Separation method No. Of workers' on the payroll At the beginning of month :- 500 During end of month:- 600 During the month, 5 workers left , 20 persons were discharged and 75 workers were recruited. Of these 10 workers were recruited in the vacancies of those leaving ,while the rest were engaged in expansion scheme?.
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