Efficiency Rating Procedures Homework Answers
Efficiency Rating procedures have always been a tricky subject to understand. How do we define efficiency? How to rate if a certain system is efficient or not? What factors should be considered? These are the questions that often arise in our mind while working on the efficiency rating procedure. Understanding this is a little tricky, but not impossible. But before we take a look at how to get efficiency rating procedures homework answers, let us first take a look at what they actually mean.
What is Efficiency?
As explained in most of the books, efficiency is related to performance. So a system or a machine is said to be more efficient if it performs good, while it is said to be inefficient if it does not perform well. But this is the case of a process or a machine. How do we know if a person who the job has been allocated to is efficient or not? How do we measure the efficiency of a person?
The answer to this is time. Every worker is usually assigned a certain amount of time to complete a given task. The time allotted may range from few hours to days. If the worker completes the task in less than or equal to the stipulated time, he is said to be efficient,while if he does not complete the task in the given time frame, he is inefficient.
If a worker completes a certain task before time, the productivity of the company increases, thus reducing the labor costs.
What is Efficiency Rating Procedure?
While we know that an employee is considered efficient only if he adheres to the work completion deadlines, it is also important to rate the employee based on his performance. The procedure or system to measure this efficiency of an employee is termed as Efficiency Rating Procedure.
How to calculate Efficiency Rating Procedure?
It is calculated by dividing the time allotted to complete a task with actual time taken to complete a task. If the rating is required in percentage, you just need to multiply the result with 100, and you will get the desired value.
Below is the formula which is explained above.
Efficiency (%)= (Time allotted to complete a task/ Time taken to complete a task)* 100
Why do we need Efficiency Rating Procedure?
Efficiency of an employee is directly proportional to the productivity of the company. By rating the efficiency, we can decide the wages of workers. Below are few points which prove the importance of the procedures.
- Helps prepare the labor budget.
- The better the performance better is the productivity. The company can afford to pay efficient workers better wages. The procedures help calculate the wages of the employees by gauging their efficiencies.
- Ratings help the management get better understanding of the workforce, and hence helps them decide which labor will lead to increased productivity while which labor will lead to losses.
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