What Metric of HR Effectiveness Is Calculated by "The Sum

question 8

Short Answer

What metric of HR effectiveness is calculated by "the sum of external costs (recruiting)and internal costs (training new employees)divided by the total number of new employees in a specific time period"?

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Definitions:

Fixed Cost

Expenses that do not vary with the level of output or sales, such as rent, salaries, or insurance premiums.

Variable Cost

Expenses that vary in proportion to the volume of goods or services produced in a business.

Opportunity Cost

The forfeiture of potential benefits from other options by selecting a specific one.

Fixed Costs

Business expenses that remain constant regardless of the level of production or sales activities, such as rent, salaries, and insurance.