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The number of employees in a factory at the beginning of the year were 4000. During the year 60 employees were recruited and 100 left the job. Calculate labour turnover rate by separation method, replacement method and flux method?
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The number of employees in a factory at the beginning of the year were...
Labour Turnover Rate Calculation:
Separation Method:
- The Separation method is calculated by dividing the number of employees who left the job during the year by the average number of employees for the year.
- Calculation:
- Number of employees who left the job = 100
- Average number of employees for the year = (4000 + 4060) / 2 = 4030
- Labour Turnover Rate by Separation Method = (100 / 4030) x 100% = 2.48%
Replacement Method:
- The Replacement method is calculated by dividing the number of employees who left the job during the year by the number of employees who were replaced during the year.
- Calculation:
- Number of employees who left the job = 100
- Number of employees who were replaced = 60
- Labour Turnover Rate by Replacement Method = (100 / 60) x 100% = 166.67%
Flux Method:
- The Flux method is calculated by dividing the total number of employees who left and were replaced during the year by the average number of employees for the year.
- Calculation:
- Total number of employees who left and were replaced during the year = 100 + 60 = 160
- Average number of employees for the year = (4000 + 4060) / 2 = 4030
- Labour Turnover Rate by Flux Method = (160 / 4030) x 100% = 3.97%
Explanation:
- Labour Turnover Rate is a measure of the rate at which employees leave and are replaced within an organization.
- The Separation method considers only the number of employees who left the job during the year, while the Replacement method considers the number of employees who left and were replaced during the year.
- The Flux method takes into account both the employees who left and were replaced during the year, and provides a more comprehensive measure of labour turnover.
- A high labour turnover rate can indicate problems within the organization, such as poor working conditions, low employee morale, or inadequate compensation.
Separation Method:
- The Separation method is calculated by dividing the number of employees who left the job during the year by the average number of employees for the year.
- Calculation:
- Number of employees who left the job = 100
- Average number of employees for the year = (4000 + 4060) / 2 = 4030
- Labour Turnover Rate by Separation Method = (100 / 4030) x 100% = 2.48%
Replacement Method:
- The Replacement method is calculated by dividing the number of employees who left the job during the year by the number of employees who were replaced during the year.
- Calculation:
- Number of employees who left the job = 100
- Number of employees who were replaced = 60
- Labour Turnover Rate by Replacement Method = (100 / 60) x 100% = 166.67%
Flux Method:
- The Flux method is calculated by dividing the total number of employees who left and were replaced during the year by the average number of employees for the year.
- Calculation:
- Total number of employees who left and were replaced during the year = 100 + 60 = 160
- Average number of employees for the year = (4000 + 4060) / 2 = 4030
- Labour Turnover Rate by Flux Method = (160 / 4030) x 100% = 3.97%
Explanation:
- Labour Turnover Rate is a measure of the rate at which employees leave and are replaced within an organization.
- The Separation method considers only the number of employees who left the job during the year, while the Replacement method considers the number of employees who left and were replaced during the year.
- The Flux method takes into account both the employees who left and were replaced during the year, and provides a more comprehensive measure of labour turnover.
- A high labour turnover rate can indicate problems within the organization, such as poor working conditions, low employee morale, or inadequate compensation.
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The number of employees in a factory at the beginning of the year were 4000. During the year 60 employees were recruited and 100 left the job. Calculate labour turnover rate by separation method, replacement method and flux method?
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The number of employees in a factory at the beginning of the year were 4000. During the year 60 employees were recruited and 100 left the job. Calculate labour turnover rate by separation method, replacement method and flux method? 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 The number of employees in a factory at the beginning of the year were 4000. During the year 60 employees were recruited and 100 left the job. Calculate labour turnover rate by separation method, replacement method and flux method? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The number of employees in a factory at the beginning of the year were 4000. During the year 60 employees were recruited and 100 left the job. Calculate labour turnover rate by separation method, replacement method and flux method?.
The number of employees in a factory at the beginning of the year were 4000. During the year 60 employees were recruited and 100 left the job. Calculate labour turnover rate by separation method, replacement method and flux method? 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 The number of employees in a factory at the beginning of the year were 4000. During the year 60 employees were recruited and 100 left the job. Calculate labour turnover rate by separation method, replacement method and flux method? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The number of employees in a factory at the beginning of the year were 4000. During the year 60 employees were recruited and 100 left the job. Calculate labour turnover rate by separation method, replacement method and flux method?.
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