Podcast
Questions and Answers
What do preventative costs refer to in terms of labour turnover?
What do preventative costs refer to in terms of labour turnover?
- Costs associated with preventing employees from leaving (correct)
- Costs incurred when employees resign
- Costs associated with training existing employees
- Costs incurred as a result of hiring new employees
How can an organization reduce preventative costs related to labour turnover?
How can an organization reduce preventative costs related to labour turnover?
- Increasing employee turnover rate
- Implementing effective training programs (correct)
- Encouraging employees to resign
- Reducing incentives for employees
Which of the following is a method used to calculate replacement costs due to labour turnover?
Which of the following is a method used to calculate replacement costs due to labour turnover?
- Multiplying the salaries of current employees by their tenure
- Calculating the expenses incurred from employee resignation letters
- Estimating the overtime costs due to vacancies
- Adding the costs of hiring and training new employees (correct)
What is the primary goal of keeping labour turnover as low as possible according to the text?
What is the primary goal of keeping labour turnover as low as possible according to the text?
Why should management attempt to keep labour turnover as low as possible?
Why should management attempt to keep labour turnover as low as possible?
What is one of the adverse effects of labour turnover mentioned in the text?
What is one of the adverse effects of labour turnover mentioned in the text?
Which cost increases due to the training or learning phase of a new worker?
Which cost increases due to the training or learning phase of a new worker?
What is an example of a replacement cost associated with labour turnover?
What is an example of a replacement cost associated with labour turnover?
How does labour turnover impact the morale of co-workers according to the text?
How does labour turnover impact the morale of co-workers according to the text?
What is one of the benefits of new hires mentioned in the text?
What is one of the benefits of new hires mentioned in the text?
What is the purpose of Replacement Method in calculating employee turnover?
What is the purpose of Replacement Method in calculating employee turnover?
Which cost is considered a considerable expense for an organization when dealing with labour turnover?
Which cost is considered a considerable expense for an organization when dealing with labour turnover?
Which factor contributes to the Cost of selection and placement as a prevention cost?
Which factor contributes to the Cost of selection and placement as a prevention cost?
How is the Separation Method calculated in determining employee turnover?
How is the Separation Method calculated in determining employee turnover?
Which cost is considered a part of prevention costs to avoid high employee turnover?
Which cost is considered a part of prevention costs to avoid high employee turnover?
What is the purpose of Flux Method in calculating employee turnover?
What is the purpose of Flux Method in calculating employee turnover?
Which method is used to determine the average number of employees during a period in employee turnover calculations?
Which method is used to determine the average number of employees during a period in employee turnover calculations?
