SHRM Senior Certified Professional SCP: Review of Employment Formulas and Study Guide, Exams of Human Resource Management

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SHRM Senior Certified Professional SCP

Revie of Employment Formulas and

SHRM Must Know Study Guide 100%

Pass | Graded A+

David Mungai [Date] [Course title]

SHRM Senior Certified Professional SCP

Revie of Employment Formulas and

SHRM Must Know Study Guide 100%

Pass | Graded A+

How do you calculate the HR metric "Absence rate" and what is it best used to evaluate? - Answer>> Lost days / Number of employees Use: To reflect benefits of a change in workplace conditions How do you calculate the HR metric "Accruals" and what is it best used to evaluate? - Answer>> Comparison of budget to actual assignee costs Use: To monitor expense accruals and make sure that assignment budget and financial goals are met How do you calculate the HR metric "Applicant yield ratio" and what is it best used to evaluate? - Answer>> Percentage of applicants who proceed to the next step of the selection process Use: To demonstrate effectiveness of recruiting methods How do you calculate the HR metric "Cost per hire" and what is it best used to evaluate? - Answer>> Total costs of hiring / number hired Use: To demonstrate increased efficiencies in recruitment and hiring process How do you calculate the HR metric "human capital return on investment" and what is it best used to evaluate? - Answer>> Ratio of employment-related expenses to revenue minus non- employment expenses Use: To demonstrate value of HR programs

Use: To track internal competency development and global talent management How do you calculate the HR metric "turnover rate"? - Answer>> Proportion of exiting employees to all employees How do you calculate the HR metric "turnover costs" and what is it best used to evaluate? - Answer>> Costs associated with separation, vacancy, replacement, and training Use: When turnover rate is combined with costs of turnover, to demonstrate economic benefits of a change in pay or benefits How do you calculate the HR metric "vacancy costs" and what is it best used to evaluate? - Answer>> Costs of substitute labor - wages and benefits not paid because vacant Use: To support decision to outsource function or area and decrease internal head count What is the role of HR leaders and what are some general titles falling within the "leader" classification? - Answer>> Leaders have a strategic role. Bring information about strengths, weaknesses, opportunities, and threats to the organization's strategy to other leaders and participate in the development of overall strategy. In addition, they develop and direct the strategy, priorities, and focus for their HR team. Example titles include CHRO, HR Director, VP of HR What is the role of HR managers? - Answer>> Responsible for units within the HR function, such as employee relations, talent acquisition, and organizational development. HR managers plan, direct, and coordinate the activities for their unit and provide input to the leader for HR strategy.

What is the role of HR specialists and what are they also sometimes referred to as? - Answer>> Use their expertise in a specific HR area (i.e., compensation and benefits design, talent management, metrics, IT, occupational health and safety, organizational development, and workforce relations) to apply best practices in their discipline to advance the HR strategy. Also known as functional experts. What is the role of HR generalists and what are they also sometimes referred to as? - Answer>> Use their general proficiency in all of HR's areas to provide sound advice and direction to employees and mangers and work closely with their specialist coworkers to ensure that the information and programs they are providing to their employees are accurate and complete. Also known as HR practitioners. What is the role of HR business partners and how are they related to HR generalists? - Answer>> HR business partners use a deeper understanding of the business—both the organization and the function—to find ways that HR can help functions achieve their goals. HR business partners are more experienced generalists who are assigned to represent HR services directly to other business functions. Cost of hire - Answer>> Total costs Number of new hires Cost per hire - Answer>> (External costs) + (Internal costs)

Total number of hires in a time period Employee absence rate - Answer>> Number of days in month

3- Female applicants/ Total applicants 4 - Offers extended/ Qualified applicants 5 - Offers extended/ Final interviews Offers accepted 6 - Offers accepted/ Offers extended Benefits costs as percentage of total payroll costs - Answer>> Total benefit costs/ Total payroll costs Compa-ratio - Answer>> Pay rate/ Midpoint Compensation ratio - Answer>> Employee's pay rate/ Pay range midpoint Health-care expense per employee - Answer>> Total health-care expenses/ Number of employees enrolled in a health-care plan Total company compensation expense - Answer>> Salaries + Overtime + Benefits + Bonuses/ Total costs Workers' compensation

incident rate - Answer>> Number of injuries and/or illnesses per 100 full-time/total hours worked by all employees during calendar year* employees 200,000* Accounts receivable turnover - Answer>> Net credit sales/ Average accounts receivable Current ratio - Answer>> Current assets/ Current liabilities Debt to asset ratio - Answer>> Total debt/ Shareholders' equity Debt to equity ratio - Answer>> Total debt/ Shareholders' equity Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin - Answer>> Earnings before interest, tax, and depreciation/ Total sales Earnings per share (EPS) - Answer>> Net income/ Number of outstanding shares Gross margin - Answer>> Total sales - Cost of goods sold (COGS)/ Total sales