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Management has instated a new grievance process.When an employee has a grievance a manager,in another department is assigned as an independent mediator to evaluate the employee's complaint.That manager must submit a written report to the Vice President of Human Resources,who must act on the report and discuss the resolution with the employee,the employee's manager,and any other relevant personnel. Management acknowledges that this process will mean that an employee will be paid for several hours of work during the grievance process and several managers will spend time in the process.However,this process will likely reduce employee turnover.
This process has been in place for 18 months.Management wants to know what the costs are for the grievance process and if the new process is achieving the stated objective of reducing employee turnover.What type of audit would internal perform?
Risk Free Interest Rate
The rate of return on an investment with zero risk of financial loss, typically based on government bonds.
Exercise Price
The price at which the underlying security can be purchased (call option) or sold (put option) when exercising an option contract, synonymous with striking price.
European Put Option
A type of put option that can only be exercised at its expiration date, not before, contrasting with American options which can be exercised at any time before expiry.
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