Question
I'm trying to get the answers to form 1.3 (pg. 25) in the Human Resource Management Applications: Cases, Exercises, Incidents, and Skill Builders 7th Edition.
I'm trying to get the answers to form 1.3 (pg. 25) in the Human Resource Management Applications: Cases, Exercises, Incidents, and Skill Builders 7th Edition. I feel that I am not coming up with the correct data. Anything will help.
Percent Turnover per year
Personnel | 1 | 2 | 3 | 4 |
---|---|---|---|---|
Executive (n=127) | 12.8 | 11.5 | 9.2 | 8.3 |
Physician (n=367) | 18.1 | 17.6 | 17.9 | 15.6 |
Other Professionals (n=615) | 22.6 | 22.1 | 18.3 | 15.6 |
Nonprofessional (n=804) | 29.0 | 26.3 | 27.1 | 24.3 |
Average Cost of Turnover per Individual Over the Four-Year Period by Personnel
Executive | Physician | Other Professional | Nonprofessional |
$11,837.50 | $14,483.50 | $6,433.00 | $3,528.50 |
Form 1.3 Calculation of benefits of Higher Employee Retention Using a Base of Year One
(Savings in a Year)
Personnel | Two | Three | Four | Total Savings |
Executive | ||||
Physician | ||||
Other Professional | ||||
Nonprofessional | ||||
All Categories |
I don't understand how this is insufficient data and maybe this is why I don't believe I'm getting the correct information. For example, if in year one for executives, there was a decrease from 12.8 to 11.5 percent (1.3%), wouldn't that mean you take 1.3% X 127 (N) to get the total number of employees that decreased, then take that number and multiply it by the average total turnover cost ($11,837.50) to get the savings for year two?
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