Hi friends, I am working in a manufacturing company, I want to know the following- 1) What is labour turnover? 2) What is the method of calculation of labour turnover? and 3) Monetary effect of it.
From India, Bangalore
1From India, Bangalore
There are various types of turnover analysis... if you are interested i can help you with the same...
As far as your question of costs is concerned, you may consider the following:
1. Hiring costs (including direct and indirect costs)
2. Training costs (you will have to train the recruit)
3. Costs due to productivity loss (the new recruit may not be as efficient as the old hand)
4. Costs due to quality (the new recruit will make mistakes too)
As far as your question of costs is concerned, you may consider the following:
1. Hiring costs (including direct and indirect costs)
2. Training costs (you will have to train the recruit)
3. Costs due to productivity loss (the new recruit may not be as efficient as the old hand)
4. Costs due to quality (the new recruit will make mistakes too)
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