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Last year sales -8303300 p/v ratio 20% total number of hours 445000total training hours 30000out of which 15000 were lost 100000prodictive hours lost costs incurred settlement cost 43820recruitment cost 26740selection costs 12750, training costs 30490calculate profit foregone due to employee turnover sol: total productive houses 430000 and productive hours lost is loss of product potential productive hours Plus and productive training hours that is equals to 100000 + 15000 it equals to 15000 here what is my doubt is here for Calicut why the added 15000 to calculate total productive our lost as 15000 days and productive hours they can add 15000 of training cost?
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Last year sales -8303300 p/v ratio 20% total number of hours 445000tot...
Here’s a detailed explanation of how to calculate the profit foregone due to employee turnover, focusing on the reason for including training hours in the lost productive hours.
Total Productive Hours Lost
The calculation of total productive hours lost is crucial in understanding the impact of employee turnover on a company’s profitability.
Understanding Productive Hours
- Total productive hours available: 445,000 hours
- Productive hours lost due to turnover: 100,000 hours
- Training hours lost: 15,000 hours
Why Include Training Hours?
- **Impact of Training on Productivity**: The 15,000 hours of training lost represent time that employees spend learning and adapting to their roles. This time is essential for maximizing productivity once they are fully trained.
- **Comprehensive Loss Assessment**: By adding the training hours to the productive hours lost, you capture the full scope of lost potential. Employees who are not adequately trained cannot perform at their maximum efficiency, directly affecting overall productivity.
Calculating Profit Foregone
To calculate the profit foregone:
1. **Total Lost Productive Potential**:
- Sum of productive hours lost (100,000) and lost training hours (15,000) equals 115,000 hours.
2. **Contribution Margin**:
- Calculate the lost sales based on the p/v ratio (20%).
- 115,000 hours * (p/v ratio) = Loss in profit.
3. **Costs Incurred**:
- Include costs such as settlement, recruitment, selection, and training to get the total cost of turnover.
Conclusion
Including both productive hours and training hours in the calculation gives a comprehensive view of the costs associated with employee turnover. This method ensures that all potential losses are accounted for, leading to more informed decision-making regarding employee retention strategies.
Total Productive Hours Lost
The calculation of total productive hours lost is crucial in understanding the impact of employee turnover on a company’s profitability.
Understanding Productive Hours
- Total productive hours available: 445,000 hours
- Productive hours lost due to turnover: 100,000 hours
- Training hours lost: 15,000 hours
Why Include Training Hours?
- **Impact of Training on Productivity**: The 15,000 hours of training lost represent time that employees spend learning and adapting to their roles. This time is essential for maximizing productivity once they are fully trained.
- **Comprehensive Loss Assessment**: By adding the training hours to the productive hours lost, you capture the full scope of lost potential. Employees who are not adequately trained cannot perform at their maximum efficiency, directly affecting overall productivity.
Calculating Profit Foregone
To calculate the profit foregone:
1. **Total Lost Productive Potential**:
- Sum of productive hours lost (100,000) and lost training hours (15,000) equals 115,000 hours.
2. **Contribution Margin**:
- Calculate the lost sales based on the p/v ratio (20%).
- 115,000 hours * (p/v ratio) = Loss in profit.
3. **Costs Incurred**:
- Include costs such as settlement, recruitment, selection, and training to get the total cost of turnover.
Conclusion
Including both productive hours and training hours in the calculation gives a comprehensive view of the costs associated with employee turnover. This method ensures that all potential losses are accounted for, leading to more informed decision-making regarding employee retention strategies.
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Last year sales -8303300 p/v ratio 20% total number of hours 445000total training hours 30000out of which 15000 were lost 100000prodictive hours lost costs incurred settlement cost 43820recruitment cost 26740selection costs 12750, training costs 30490calculate profit foregone due to employee turnover sol: total productive houses 430000 and productive hours lost is loss of product potential productive hours Plus and productive training hours that is equals to 100000 + 15000 it equals to 15000 here what is my doubt is here for Calicut why the added 15000 to calculate total productive our lost as 15000 days and productive hours they can add 15000 of training cost?
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Last year sales -8303300 p/v ratio 20% total number of hours 445000total training hours 30000out of which 15000 were lost 100000prodictive hours lost costs incurred settlement cost 43820recruitment cost 26740selection costs 12750, training costs 30490calculate profit foregone due to employee turnover sol: total productive houses 430000 and productive hours lost is loss of product potential productive hours Plus and productive training hours that is equals to 100000 + 15000 it equals to 15000 here what is my doubt is here for Calicut why the added 15000 to calculate total productive our lost as 15000 days and productive hours they can add 15000 of training cost? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Last year sales -8303300 p/v ratio 20% total number of hours 445000total training hours 30000out of which 15000 were lost 100000prodictive hours lost costs incurred settlement cost 43820recruitment cost 26740selection costs 12750, training costs 30490calculate profit foregone due to employee turnover sol: total productive houses 430000 and productive hours lost is loss of product potential productive hours Plus and productive training hours that is equals to 100000 + 15000 it equals to 15000 here what is my doubt is here for Calicut why the added 15000 to calculate total productive our lost as 15000 days and productive hours they can add 15000 of training cost? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Last year sales -8303300 p/v ratio 20% total number of hours 445000total training hours 30000out of which 15000 were lost 100000prodictive hours lost costs incurred settlement cost 43820recruitment cost 26740selection costs 12750, training costs 30490calculate profit foregone due to employee turnover sol: total productive houses 430000 and productive hours lost is loss of product potential productive hours Plus and productive training hours that is equals to 100000 + 15000 it equals to 15000 here what is my doubt is here for Calicut why the added 15000 to calculate total productive our lost as 15000 days and productive hours they can add 15000 of training cost?.
Last year sales -8303300 p/v ratio 20% total number of hours 445000total training hours 30000out of which 15000 were lost 100000prodictive hours lost costs incurred settlement cost 43820recruitment cost 26740selection costs 12750, training costs 30490calculate profit foregone due to employee turnover sol: total productive houses 430000 and productive hours lost is loss of product potential productive hours Plus and productive training hours that is equals to 100000 + 15000 it equals to 15000 here what is my doubt is here for Calicut why the added 15000 to calculate total productive our lost as 15000 days and productive hours they can add 15000 of training cost? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Last year sales -8303300 p/v ratio 20% total number of hours 445000total training hours 30000out of which 15000 were lost 100000prodictive hours lost costs incurred settlement cost 43820recruitment cost 26740selection costs 12750, training costs 30490calculate profit foregone due to employee turnover sol: total productive houses 430000 and productive hours lost is loss of product potential productive hours Plus and productive training hours that is equals to 100000 + 15000 it equals to 15000 here what is my doubt is here for Calicut why the added 15000 to calculate total productive our lost as 15000 days and productive hours they can add 15000 of training cost? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Last year sales -8303300 p/v ratio 20% total number of hours 445000total training hours 30000out of which 15000 were lost 100000prodictive hours lost costs incurred settlement cost 43820recruitment cost 26740selection costs 12750, training costs 30490calculate profit foregone due to employee turnover sol: total productive houses 430000 and productive hours lost is loss of product potential productive hours Plus and productive training hours that is equals to 100000 + 15000 it equals to 15000 here what is my doubt is here for Calicut why the added 15000 to calculate total productive our lost as 15000 days and productive hours they can add 15000 of training cost?.
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Last year sales -8303300 p/v ratio 20% total number of hours 445000total training hours 30000out of which 15000 were lost 100000prodictive hours lost costs incurred settlement cost 43820recruitment cost 26740selection costs 12750, training costs 30490calculate profit foregone due to employee turnover sol: total productive houses 430000 and productive hours lost is loss of product potential productive hours Plus and productive training hours that is equals to 100000 + 15000 it equals to 15000 here what is my doubt is here for Calicut why the added 15000 to calculate total productive our lost as 15000 days and productive hours they can add 15000 of training cost?, a detailed solution for Last year sales -8303300 p/v ratio 20% total number of hours 445000total training hours 30000out of which 15000 were lost 100000prodictive hours lost costs incurred settlement cost 43820recruitment cost 26740selection costs 12750, training costs 30490calculate profit foregone due to employee turnover sol: total productive houses 430000 and productive hours lost is loss of product potential productive hours Plus and productive training hours that is equals to 100000 + 15000 it equals to 15000 here what is my doubt is here for Calicut why the added 15000 to calculate total productive our lost as 15000 days and productive hours they can add 15000 of training cost? has been provided alongside types of Last year sales -8303300 p/v ratio 20% total number of hours 445000total training hours 30000out of which 15000 were lost 100000prodictive hours lost costs incurred settlement cost 43820recruitment cost 26740selection costs 12750, training costs 30490calculate profit foregone due to employee turnover sol: total productive houses 430000 and productive hours lost is loss of product potential productive hours Plus and productive training hours that is equals to 100000 + 15000 it equals to 15000 here what is my doubt is here for Calicut why the added 15000 to calculate total productive our lost as 15000 days and productive hours they can add 15000 of training cost? theory, EduRev gives you an
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