BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which four elements are considered when calculating employee separation costs?
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-Exit interviews-Lost productivity-Administrative function related to termination-Unemployment tax
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-Unemployment tax-Separation pay-Administrative function related to termination-Exit interviews
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-Lost productivity-Cost of lost customers, sales and profit due to departure-Separation pay-Exit interviews
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-Exit interviews-Separation pay-Cost of additional temporary help-Unemployment tax
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Explanation:
Detailed explanation-1: -Involuntary termination. Voluntary termination. Wrongful termination. End of a work contract or temporary employment.
Detailed explanation-2: -Separation costs are the costs an employer incurs during the process of terminating an employee, including severance pay, costs associated with unemployment insurance claims, the expense of continued benefits, etc.
Detailed explanation-3: -To calculate the cost of separation, average the total amount of time taken to complete the separation paperwork and multiply it by the cost per hour of the employees who complete those tasks.
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