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This approach measures the cost of replacing an employee. According to Likert (1985) replacement cost includes recruitment, selection, compensation, and training cost (including the income foregone during the training period). The data derived from this method could be useful in deciding whether to dismiss or replace the staff.
The induction itself is usually conducted within the workplace by competent trainers and speakers in a presentation format. [5] Induction training can also be in a written format, which can be sent to a new employee before they start, or handed to them when they start or delivered as a computer-based format. [6]
Reimbursement is the act of compensating someone for an out-of-pocket expense by giving them an amount of money equal to what was spent. [1]Companies, governments and nonprofit organizations may compensate their employees or officers for necessary and reasonable expenses; under US [2] [3] law, these expenses may be deducted from taxes by the organization and treated as untaxed income for the ...
An incentive program is a formal scheme used to promote or encourage specific actions or behavior by a specific group of people during a defined period of time. Incentive programs are particularly used in business management to motivate employees and in sales to attract and retain customers.
Business letters can have many types of content, for example to request direct information or action from another party, to order supplies from a supplier, to point out a mistake by the letter's recipient, to reply directly to a request, to apologize for a wrong, or to convey goodwill. A business letter is sometimes useful because it produces a ...
Using managers to train employees is an effective on-the-job training strategy because it allows them to connect the training to the actual operation that employees will conduct in their routine work. [8] Training employees to train coworkers is another effective strategy since they are familiar with the company's culture, strengths, and ...