MAN 4390 - exam 2 - ch. 6
In order to restrict the eligibility of early retirement to a short period of time, organizations use what's called a(n) ________.
open window
Companies are often willing to pay for outplacement because it can reduce some of the ________ associated with layoffs.
risks
Over the course of 12 months, you have had 10 employees leave a department. The average number of employees in the department is 50. Given these numbers, your annualized turnover rate is ________.
.20
Benefits of outplacement programs
1. Assisting separated employees in finding comparable jobs quickly as possible. 2. Reducing the morale problems of employees about to be laid off 3. Minimizing the amount of litigation initiated by separated employees. 4. Helping to keep the remaining employees focused on their work
Job search assistance includes...
1. Résumé writing 2. Negotiation skills 3. Interviewing and job-search techniques 4. Career planning
According to a recent survey of more than 200 insurance brokerages, the profit level in the higher-profit group, low-turnover group was 30.3 percent of sales while the profit level in the lower-profit, high-turnover group was ________.
11.4%
In China, the employee turnover rate is approximately what percentage higher than the global average?
25%
With early retirement, many companies offer the continuation of health benefits so that early retirees enjoy coverage until they are eligible for Medicare at age ________. `
65
________, where the company simply waits for its employees to leave and freezes hiring, is a common cost-reducing alternative to layoffs.
Attrition
Which of the following is NOT considered to be part of job-search assistance?
Counseling
Most popular methods of downsizing:
Early retirement
What is the name for what occurs when an employee ceases to be a member of an organization?
Employee Separation
Which of the following describes a discharge?
It is a result of an employee's failure to change some unacceptable behavior that management has tried repeatedly to correct.
According to the textbook, all of the following represent preferable alternatives to layoffs EXCEPT ________.
Pay and hour cuts
Which of the following is NOT an example of an involuntary separation?
Retirement.
When an organization becomes bloated with too many management layers that add no value to the product it offers, the organization should consider ________.
Rightsizing
Which type of involuntary separation has the sole purpose of improving efficiency?
Rightsizing
Which is not a benefit of employee separation?
Training costs
Which of the following pieces of legislation requires U.S. employers with 100 or more employees to give 60 days' notice to employees who will be laid off as a result of plant closings or mass separation of 50 or more workers?
WARN
Which of the following pieces of legislation requires U.S. employers with 100 or more employees to give 60 days' notice to employees who will be laid off as a result of plant closings or mass separation of 50 or more workers?
Worker Adjustment and Retraining Notification Act (WARN)
Whether it's voluntary or involuntary, the video mentions several questions and concerns employees might have upon separation. A good way to find out what kind of counseling or assistance the employee might need is through _______.
an exit interview
Through outplacement services, the employer can provide administrative support in the form of all of the following EXCEPT ________.
cash assistance
Voluntary separations based on the employee finding the job unattractive can reflect all of the following dynamics EXCEPT ________.
cost of living expenses
Which of the following is NOT a benefit of an outplacement program?
creating cost savings for organization
Which of the following strategies reduces the scale (size) and scope of its business to improve its financial performance?
downsizing
When companies offer early retirement to employees, they typically offer continued ________ benefits.
health- until 65/medicare
When a company has a stronger response to an early retirement program than was expected, it sometimes has to ________ in order to make up for the shortfall.
hire additional people
Which of the following is a benefit to a firm of NOT filling job vacancies that are created by turnover?
improving bottom line
Employee separation, especially when involuntary, can be a very scary and emotional time for employees. Two of the most common and important aspects of a company's outplacement services are emotional support and ________.
job-search assistance
Voluntary separations can be based on all of the following EXCEPT ________.
lack of alternatives
Organizations will typically try to reduce labor costs by any means necessary, using ________ as a last resort only.
layoffs
As Philip Gordon, the Managing Partner of Gordon Law Group, explains, employee separation "usually results from some kind of change in direction" from either the employee or the employer. Employee separation is measured by ________, which companies should monitor and try to keep low.
turnover rates
Carissa is in her 30s and is leaving her job in order to care for her sick mother. Which of the following types of separation is this MOST likely an example of?
voluntary separation
The video cites several different reasons why employee separation might occur. Situations like quitting and retirement are both examples of ________.
voluntary separation
