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