An Employer-Employee Relationship Occurs When an Employer Gives an Employee

question 75

True/False

An employer-employee relationship occurs when an employer gives an employee authority to act and enter into contracts on his or her behalf.

Recognize the significance of accurate job advertisements and yield ratios in successful recruitment strategies.

Acknowledge the importance of supporting career development and retention strategies like mentoring programs and fast-track initiatives.

Understand the concept and utility of yield ratios in evaluating recruitment sources.

Comprehend different career development paths and how they impact skill enhancement and diversification.

---

Definitions:

Mark-Up Percentage

The percent difference between the cost of a good or service and its selling price, used to calculate the selling price from the cost.

Contribution Margins

The amount remaining from sales revenue after variable expenses are deducted, indicating how much contributes to covering fixed costs and generating profit.

Labour Hours

The total number of hours worked by employees, used for measuring productivity or calculating costs.

Product Mix

The variety of products that a company offers for sale, which can affect its market position and profitability.