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Calculation: Availability = Time operators are working productively / Time scheduled Example: Two employees (workforce) are scheduled to work 8 hour (480 minutes) shifts. The normal shift includes a scheduled 30 minute break. The employees experience 60 minutes of unscheduled downtime. Scheduled Time = 960 min − 60 min break = 900 Min
For example, if attrition rate is calculated for Employees with tenure 1 to 4 years, above formula may result artificially inflated attrition rate as employees with tenure more than 4 years are not counted in the denominator. More precise calculations of turnover have also been developed.
An alternative motivation theory to Maslow's hierarchy of needs is the motivator-hygiene (Herzberg's) theory. While Maslow's hierarchy implies the addition or removal of the same need stimuli will enhance or detract from the employee's satisfaction, Herzberg's findings indicate that factors garnering job satisfaction are separate from factors leading to poor job satisfaction and employee turnover.
Churn rate (also known as attrition rate, turnover, customer turnover, or customer defection) [1] is a measure of the proportion of individuals or items moving out of a group over a specific period. It is one of two primary factors that determine the steady-state level of customers a business will support.
Workforce management (WFM) is an institutional process that maximizes performance levels and competency for an organization.The process includes all the activities needed to maintain a productive workforce, such as field service management, human resource management, performance and training management, data collection, recruiting, budgeting, forecasting, scheduling and analytics.
Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure. Workforce productivity, often referred to as labor productivity , is a measure for an organisation or company, a process, an industry, or a country.
"An Analysis of Sample Attrition in Panel Data: The Michigan Panel Study of Income Dynamics" (PDF). Journal of Human Resources. 33 (2): 251– 299. doi:10.2307/146433. JSTOR 146433. Wooldridge, Jeffrey M. (2010). Econometric Analysis of Cross Section and Panel Data. Cambridge: MIT Press. pp. 837– 842. ISBN 9780262296793