Labour welfare, relates to taking care of the well-being of workers by employers, trade unions, government and non-government agencies. It deals with the provision of opportunities for workers and his family/her family for a good life as understood in most comprehensive sense. The basic purpose of labour welfare is to improve the working class and thereby make him a happy [...]
Employee cost should reflect the total cost to the company for compensating employees for their services and also for retaining them. Therefore, employee cost includes both monetary and non-monetary benefits. Employee cost does not include the cost of recruiting and training employees. Examples of monetary benefits are basic salary and dearness pay/allowance; overtime pay; productivity, and profit sharing bonus; house [...]
Employee Turnover Rate: Employee turnover refers to the change in the labour force during a specified period. Various methods are used to measure the labour turnover rate. The following are the popular methods for measuring employee turnover rate: Causes of Employee Turnover: Causes of employee turnover may be grouped under the following categories: (a) Personal causes (b) Unavoidable causes (c) [...]