employees

• •Staff are the employees in a business•
• •Staffing is the process of hiring, training and supervising employees in an business.
• •Staff can be viewed by the business as an asset•An asset is: a useful or valuable thing or person
• •Staff which support the manufacturing process (1) or who give great customer service (2) can both contribute to the value of the output – add value to the product
• •Treating staff as an asset means that they are developed with training and seen as a benefit to the business
• staff as a cost- 1.Cost of recruitment

  2.Cost of training

  3.Cost of paying minimum wages

  4.Cost of paying staff salaries and wages

  5.Cost of staff welfare

  Cost of redundancy
• •The costs of recruitment can be high. A business may carry out the recruitment themselves, costs add up, from the advert for the job to the employee time away from their job to carry out interview
• •Staff training is often viewed as a cost rather than adding value, however companies with innovative learning and development programmes are increasing sales revenue and retaining their staff for longer
• •A business in the UK is bound by employment laws•One of these laws is the minimum  wage law, businesses must pay these rates or higher to their workers - if the don’t they face high fines
• cost of salaries and wages •A salary is paid to permanent staff and is usually a year’s salary divided into 12 equal monthly amounts e.g. £1,200 a month •Wages are paid to staff on an hourly basis e.g. £7.83 an hour
• •Staff welfare is an umbrella term that can mean anything and everything from facilities and benefits, to working conditions and retirement pension rates. •An employee who is well cared for will be more fulfilled and satisfied in their job so are less likely to leave
• •Employees are made redundant when the job no longer exists. In comparison being fired is when an employee does not do their job correctly. Employees may be entitled to redundancy pay