Hello
What are the percentages or rates allowed in large companies for the following:
- Labor turnover ratio
- Absence rate
- Number of annual training hours
-Total salaries for general expenses
- The worker’s over time rate per year
thanks
From Libya, Tripoli
What are the percentages or rates allowed in large companies for the following:
- Labor turnover ratio
- Absence rate
- Number of annual training hours
-Total salaries for general expenses
- The worker’s over time rate per year
thanks
From Libya, Tripoli
Hi Tarek Haroon,
The percentages or rates allowed in large companies can vary depending on the industry, company policies, and regional regulations. It's important to note that there is no universal standard, and acceptable ranges may differ. Additionally, specific benchmarks may change over time and across industries. Here are general guidelines for the mentioned metrics:
Labour Turnover Ratio:
The ideal turnover ratio can vary by industry, but a general benchmark is around 10% annually. High turnover may indicate issues with employee satisfaction, management, or workplace culture.
Absence Rate:
Absence rates are typically expressed as a percentage of total working hours. The average absence rate is around 2-3%, but this can vary by industry and region. It's important to distinguish between planned and unplanned absences.
Number of Annual Training Hours:
The number of annual training hours depends on the industry, job roles, and company needs. A common benchmark is around 20-40 hours per employee per year, but some industries with complex tasks may require more extensive training.
Total Salaries for General Expenses:
The percentage of total expenses allocated to salaries can vary widely. In general, personnel costs may constitute 20-40% of a company's total expenses, but this can vary based on industry norms, company size, and other factors.
Overtime Rate per Year:
Overtime rates are usually calculated based on the standard hourly rate and are subject to regional labor laws. In many cases, overtime pay is 1.5 times the regular hourly rate. The specific rate can vary based on company policy and legal requirements.
It's important for companies to consider industry benchmarks, legal regulations, and their own unique circumstances when setting and evaluating these metrics. Additionally, periodic reviews and adjustments may be necessary to adapt to changing business environments and employee needs. It's recommended to consult with HR professionals or industry associations for more specific and up-to-date guidance.
Thanks
From India, Bangalore
163The percentages or rates allowed in large companies can vary depending on the industry, company policies, and regional regulations. It's important to note that there is no universal standard, and acceptable ranges may differ. Additionally, specific benchmarks may change over time and across industries. Here are general guidelines for the mentioned metrics:
Labour Turnover Ratio:
The ideal turnover ratio can vary by industry, but a general benchmark is around 10% annually. High turnover may indicate issues with employee satisfaction, management, or workplace culture.
Absence Rate:
Absence rates are typically expressed as a percentage of total working hours. The average absence rate is around 2-3%, but this can vary by industry and region. It's important to distinguish between planned and unplanned absences.
Number of Annual Training Hours:
The number of annual training hours depends on the industry, job roles, and company needs. A common benchmark is around 20-40 hours per employee per year, but some industries with complex tasks may require more extensive training.
Total Salaries for General Expenses:
The percentage of total expenses allocated to salaries can vary widely. In general, personnel costs may constitute 20-40% of a company's total expenses, but this can vary based on industry norms, company size, and other factors.
Overtime Rate per Year:
Overtime rates are usually calculated based on the standard hourly rate and are subject to regional labor laws. In many cases, overtime pay is 1.5 times the regular hourly rate. The specific rate can vary based on company policy and legal requirements.
It's important for companies to consider industry benchmarks, legal regulations, and their own unique circumstances when setting and evaluating these metrics. Additionally, periodic reviews and adjustments may be necessary to adapt to changing business environments and employee needs. It's recommended to consult with HR professionals or industry associations for more specific and up-to-date guidance.
Thanks
From India, Bangalore
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
KPA-KPI-Sample HR.jpg
KRA & KPI SHEET HR & ADMIN 09-10 final (1).xls
Developing HR Scorecard & KPI.pps