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There were 1500 employees in a factory in the beginning of the Year. 50 employees had left during the year and 100 employees were newly appointed during the year. Find the labour turnover rate by separation and replacement method solution?
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There were 1500 employees in a factory in the beginning of the Year. 5...
Calculation of Labour Turnover Rate by Separation and Replacement Method
To calculate the labour turnover rate by the separation and replacement method, we need to consider the number of employees who left the company (separation) and the number of new employees hired (replacement) during a specific period. In this scenario, we will calculate the labour turnover rate for the entire year.
Given Information:
- Total employees at the beginning of the year: 1500
- Employees who left during the year: 50
- Employees newly appointed during the year: 100
Step 1: Calculate the average number of employees for the year
To calculate the average number of employees, we need to consider the total number of employees at the beginning and the end of the year.
Total employees at the end of the year = Total employees at the beginning + New employees appointed - Employees who left
Total employees at the end of the year = 1500 + 100 - 50 = 1550
Average number of employees = (Total employees at the beginning + Total employees at the end) / 2
Average number of employees = (1500 + 1550) / 2 = 1525
Step 2: Calculate the total separations
The total separations refer to the number of employees who left during the year.
Total separations = Employees who left = 50
Step 3: Calculate the total replacements
The total replacements refer to the number of new employees hired during the year.
Total replacements = Employees newly appointed = 100
Step 4: Calculate the labour turnover rate
The labour turnover rate is calculated by dividing the total separations by the average number of employees and then multiplying by 100.
Labour turnover rate = (Total separations / Average number of employees) * 100
Labour turnover rate = (50 / 1525) * 100 ≈ 3.28%
Conclusion:
The labour turnover rate by the separation and replacement method for the given scenario is approximately 3.28%. This means that, on average, 3.28% of the employees left the company and were replaced during the year.
To calculate the labour turnover rate by the separation and replacement method, we need to consider the number of employees who left the company (separation) and the number of new employees hired (replacement) during a specific period. In this scenario, we will calculate the labour turnover rate for the entire year.
Given Information:
- Total employees at the beginning of the year: 1500
- Employees who left during the year: 50
- Employees newly appointed during the year: 100
Step 1: Calculate the average number of employees for the year
To calculate the average number of employees, we need to consider the total number of employees at the beginning and the end of the year.
Total employees at the end of the year = Total employees at the beginning + New employees appointed - Employees who left
Total employees at the end of the year = 1500 + 100 - 50 = 1550
Average number of employees = (Total employees at the beginning + Total employees at the end) / 2
Average number of employees = (1500 + 1550) / 2 = 1525
Step 2: Calculate the total separations
The total separations refer to the number of employees who left during the year.
Total separations = Employees who left = 50
Step 3: Calculate the total replacements
The total replacements refer to the number of new employees hired during the year.
Total replacements = Employees newly appointed = 100
Step 4: Calculate the labour turnover rate
The labour turnover rate is calculated by dividing the total separations by the average number of employees and then multiplying by 100.
Labour turnover rate = (Total separations / Average number of employees) * 100
Labour turnover rate = (50 / 1525) * 100 ≈ 3.28%
Conclusion:
The labour turnover rate by the separation and replacement method for the given scenario is approximately 3.28%. This means that, on average, 3.28% of the employees left the company and were replaced during the year.
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There were 1500 employees in a factory in the beginning of the Year. 50 employees had left during the year and 100 employees were newly appointed during the year. Find the labour turnover rate by separation and replacement method solution?
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There were 1500 employees in a factory in the beginning of the Year. 50 employees had left during the year and 100 employees were newly appointed during the year. Find the labour turnover rate by separation and replacement method solution? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about There were 1500 employees in a factory in the beginning of the Year. 50 employees had left during the year and 100 employees were newly appointed during the year. Find the labour turnover rate by separation and replacement method solution? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for There were 1500 employees in a factory in the beginning of the Year. 50 employees had left during the year and 100 employees were newly appointed during the year. Find the labour turnover rate by separation and replacement method solution?.
There were 1500 employees in a factory in the beginning of the Year. 50 employees had left during the year and 100 employees were newly appointed during the year. Find the labour turnover rate by separation and replacement method solution? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about There were 1500 employees in a factory in the beginning of the Year. 50 employees had left during the year and 100 employees were newly appointed during the year. Find the labour turnover rate by separation and replacement method solution? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for There were 1500 employees in a factory in the beginning of the Year. 50 employees had left during the year and 100 employees were newly appointed during the year. Find the labour turnover rate by separation and replacement method solution?.
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