Calculating and Understanding HR Data: Labor Productivity and Turnover

The video tutorial explores the significance of HR data, focusing on labor productivity and turnover. It highlights the importance of objective data for managers to assess workforce performance, free from social biases. The tutorial explains how to calculate labor productivity and turnover, using examples to illustrate these concepts. It also discusses the causes and effects of labor turnover, emphasizing the impact on business costs and potential benefits of new ideas from fresh employees.

Why is HR data considered crucial in a business context?

• It helps in financial forecasting.

• It assesses the performance of human resources.

• It determines the market value of a company.

• It predicts future business trends.

What is the primary reason HR data is important for managers?

• It helps in socializing with employees.

• It provides an objective basis for evaluating productivity.

• It reduces the need for employee training.

• It increases the company's market share.

How is labor productivity calculated?

• Number of employees divided by total output.

• Output per employee.

• Total revenue divided by number of employees.

• Total output divided by total revenue.

What is a potential benefit of higher labor productivity?

• Decreased competitiveness.

• Lower labor costs per unit.

• Higher employee turnover.

• Increased labor costs per unit.

How is labor turnover rate calculated?

• Number of new hires divided by total employees.

• Total revenue divided by number of employees.

• Number of employees leaving divided by total employees, multiplied by 100.

• Number of employees leaving divided by total revenue.

What could be a cause of high labor turnover?

• Stable job market.

• Increased company profits.

• Poor recruitment and selection.

• High employee satisfaction.

What is a potential effect of high labor turnover?

• Lower training costs.

• Higher recruiting costs.

• Increased employee satisfaction.

• Decreased innovation.

What is one advantage of labor turnover?

• Introduction of fresh ideas.

• Loss of productivity.

• Increased training costs.

• Higher recruiting costs.

How can external factors influence labor turnover?

• By stabilizing the job market.

• By increasing job vacancies in the area.

• By increasing job satisfaction.

• By reducing the number of job vacancies.

What is a potential disadvantage of high labor turnover?

• Higher productivity levels.

• Increased employee loyalty.

• Lower recruiting costs.

• Loss of experienced staff.