Salaries How Much Am I Worth
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The document discusses the true costs an employer incurs to employ someone beyond just their salary. It estimates that total employment costs are around 1.5 times the amount of the employee's salary. Factors that increase costs include national insurance payments, holiday pay, pension contributions, office space, equipment, utilities, and internal support services. For an employee with a £30,000 salary, the first year employment costs are estimated to be around £51,182 or 1.7 times the salary. Demonstrating an understanding of these hidden employment costs in an interview can help an applicant stand out from other candidates.
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- Bonuses are awarded based on performance evaluations and can range from 125% to 0% of the employee's available bonus, which is 3% of their actual salary.
- Benefits include health insurance, a 401K plan, and other policies outlined in the employee manual. Training and mentoring programs include an online learning account and assigning employees a technical mentor.
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Some jobs pay more because they are less desirable. They may be hazardous, dirty, and employment may be sporadic or seasonal.
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Bank Competitive Exam
UPSC Competitive Exams
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• Achieved fast growth - £1m t/o in first 3 years
• Now settled around c.£600k for past 2 years after substantial increase in prices (Gross Profit increased to 27%)
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Using data from a range of external sources and our own databases we arrived at a final figure showing this cost to be around three and a half times more than a year’s salary.
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1. Calculating unit costs by determining direct costs like materials and labor, as well as allocating indirect costs like overhead.
2. Calculating break-even points for service-based businesses by determining the sales level needed to cover costs and personal income.
3. Calculating break-even points for product-based businesses by determining the number of units that must be sold to cover direct costs and allocate indirect costs.
The document provides exercises for learners to practice calculating costs, break-even points, and pricing for different business scenarios.
Measuring the effectiveness of a workforce
This document discusses key metrics for measuring workforce effectiveness:
1. Labour productivity is a ratio of output to number of employees and can be increased through training, technology, and HRM policies.
2. Examples show how improved productivity leads to lower costs per unit and higher profits.
3. Labour turnover, absenteeism, and health and safety rates are also discussed as important metrics to monitor and strategies to improve workforce satisfaction.
Gayles Presentation
As a StaffingForce Associate, you can earn substantial income by matching job seekers with employers and receiving commissions from job placements. The opportunity allows you to work independently and earn 80% or more of placement fees. StaffingForce provides training, access to a candidate and job database, and handles back-office functions. With one placement earning $16,000 in commissions, Associates can easily earn back initial fees and build a profitable business by finding jobs for multiple candidates.
Principle of microeconomic.pptx
This document provides an overview of microeconomics principles from an economics course. It discusses key concepts like the organization of business firms where owners risk capital for potential profits or losses. It also covers incentive issues in firms like shirking due to imperfect monitoring. The document defines different types of business firms like sole proprietorships, partnerships, and corporations. It explains the differences between accounting costs and economic costs, and accounting profits versus economic profits when considering opportunity costs. Graphs are provided to illustrate concepts like marginal product, marginal cost, average cost, and total cost curves in the short run.
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Meetings are an important but costly part of running a business. It is important to properly evaluate the costs and benefits of meetings. The largest cost is usually employee time rather than expenses like facilities or software. Companies should calculate the cost of employee time spent in meetings and consider opportunity costs of other productive activities they could be doing instead. Regularly evaluating meetings using a "gut check" can help determine if they are necessary. Poorly run meetings undermine company culture and success while effective meetings that are focused and include the right people can have significant benefits.
Who is feeding the outsourcing movement
You can think of outsourcing everything, including yourself. How do you outsource yourself? You can become a vendor that provides services to your company on a contract basis instead of being an employee. That is extreme, but possible. The other extreme is where the company employs everyone and makes everything. Now, this is extreme and impossible. Can a company make its own photocopiers? And coffee maker? Remember the old make or buy economic question? Exciting micro-economic analysis exercise back then. Now it’s a really life question – in-house or outsource?
Fundamental concepts, principle of economics
Fundamental Concept or Principle of Economics, Opportunity cost principle, Equi-marginal principle, incremental principle, discounting principle, Risk and uncertainty, Time Perspective
Buckley hr metrics 2011_dec_12
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Estimating revenues, costs_and_profits[1]
The document discusses key concepts for estimating revenues, costs, and profits for new businesses. It provides examples of Monsieur LePlonk, who is opening a French food shop, and Shelly Isfit, who is starting a personal training business. It explains how to estimate revenues based on expected sales volumes and prices. It also distinguishes between fixed and variable costs, and shows how to calculate total costs and profits or losses. The impacts of making a profit or loss on a business are also covered.
New Hire Costs Vs Retention
Replacing employees is very costly, often totaling over three times their annual salary due to direct hiring costs like signing bonuses and training, as well as indirect costs like lost productivity and knowledge. Retaining current employees through raises, bonuses, flexible schedules, appreciation, and career development opportunities is a more affordable alternative that improves morale.
New Hire Costs Vs Retention
Replacing employees is very costly for companies, often totaling over three times the employee's annual salary. Direct costs of replacing a $60,000/year employee total around $49,000 and include things like job ads, signing bonuses, and training the new hire. Indirect costs, like lost productivity and lower morale, add another $101,000, bringing the total replacement cost to around $150,000. Retaining current employees through salary increases, bonuses, flexible schedules, and career development opportunities is a more affordable alternative that benefits both the company and its workforce.
HR Cost Benefit Analysis
The diversity training program for InsuraLife's sales division costs $110,610 initially but is expected to provide annual benefits of $106,250 from increased productivity and reduced legal costs. Over the 4 year period, the program has a positive net present value of $45,487 and benefit-cost ratio of 1.41, indicating the benefits outweigh the costs. The internal rate of return is 34%, higher than the company's cost of capital of 15%, suggesting the program should be approved.
Net Income Margin
The document discusses net income margin, which is a company's net income divided by its total revenue. This ratio indicates how much profit a company makes for every dollar of sales. An example is given of a company that made $8 in net income for every $100 in total revenue in 2008, giving it a net income margin of 8%. The document suggests that employee productivity can impact a company's net income margin by reducing overtime costs when employees voluntarily work extra hours to cover vacant shifts rather than requiring mandatory overtime.
Analysing a business' gross profit margin
A business’ gross profit margin is a major indicator to analysts about its overall profitability and long-term sustainability. It’s critical that the margin is understood as well as what drives it and why analysts should be worried if it drops. This presentation explains why the margin is so important and how to analyse it.
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[To download this presentation, visit:
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