AHLEI CHM flashcards
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32 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Turnover rate formula
- Separations during a period divided by the average number of employees during that period, multiplied by 100 to express the result as a percentage.
- Full-time equivalent (FTE)
- A staffing measure computed by dividing total scheduled hours by standard full-time hours, allowing part-time and full-time positions to be compared on one basis.
- Job description vs specification
- The job description lists duties and responsibilities of a position; the job specification lists the knowledge, skills, and abilities a qualified candidate must possess.
- Progressive discipline
- A graduated sequence of corrective steps, typically verbal warning, written warning, suspension, then termination, with documentation at each stage supporting just-cause action.
- FLSA overtime rule
- Non-exempt employees must be paid 1.5 times their regular rate for hours worked beyond 40 in a workweek; exempt salaried employees are generally not owed overtime.
- Behaviorally anchored rating scales
- A performance appraisal method that rates employees against specific observable behaviors tied to performance levels, reducing subjective judgment compared with simple trait rating.
- Working capital
- Current assets minus current liabilities; it measures the short-term liquidity a business has available to fund day-to-day operations.
- Current and quick ratios
- Current ratio equals current assets divided by current liabilities; quick ratio subtracts inventory from current assets before dividing, giving a stricter liquidity test.
- Cost of goods sold
- Beginning inventory plus purchases minus ending inventory for the period; it represents the direct cost of products sold during that period.
- Net operating income
- Gross operating profit minus undistributed operating expenses; it measures income from operations before fixed charges such as rent, taxes, and interest.
- RevPAR formula
- Rooms revenue divided by rooms available, which also equals average daily rate multiplied by occupancy percentage; it combines rate and occupancy into one metric.
- Payback period
- The initial investment divided by annual net cash inflow, expressing how many years are needed to recover the capital committed to a project.
- Flexible budget
- A budget adjusted to the actual volume achieved, which separates spending variances from volume variances and gives a fairer performance comparison than a static budget.
- Departmental income
- Departmental revenue minus departmental direct expenses; undistributed operating expenses are excluded because they are not attributable to a single revenue department.
- Occupancy percentage
- Rooms sold divided by rooms available, where rooms available equals total rooms minus out-of-order rooms; the result is usually expressed as a percentage.
- Preventive vs corrective maintenance
- Preventive maintenance is scheduled work intended to extend asset life and avoid failures; corrective maintenance responds to reported breakdowns or defects.
- Work order contents
- A maintenance request record that captures location, problem description, requester, priority, assigned technician, labor and material cost, and completion sign-off.
- PAR stock level
- Par level equals average daily usage multiplied by lead time in days, plus a safety stock allowance; it sets reorder points for supplies and linens.
- Out-of-order vs out-of-service
- Out-of-order rooms are removed from sellable inventory; out-of-service rooms remain part of inventory but are temporarily unavailable for assignment.
- Hierarchy of controls
- A safety risk-reduction order: elimination, substitution, engineering controls, administrative controls, and finally personal protective equipment as the least effective control.
- Energy use per occupied room
- A benchmarking metric dividing total energy consumption by occupied rooms, used to compare efficiency across periods and identify savings opportunities.
- Life-safety inspection logging
- Sprinklers, alarms, extinguishers, and exit signage must be inspected at documented intervals, with each test recorded in a maintained log.
- TRevPAR
- Total revenue per available room, calculated as total revenue from all sources divided by rooms available; it captures non-rooms income that RevPAR omits.
- Booking pace
- A comparison of reservations on hand for a future date against reservations on hand at the same point in prior periods, used to forecast demand.
- Overbooking net room gain
- Overbooked rooms minus expected no-shows, cancellations, and early departures; the result indicates whether overbooking will produce a net gain or walk situation.
- Rate fencing
- Restrictions such as advance purchase, length-of-stay requirements, and cancellation penalties that let a property charge different prices for similar rooms by segment.
- Contribution margin per room
- Room rate minus variable cost per occupied room; a rate is accepted only when this margin is positive and displaces no higher-value demand.
- Group displacement analysis
- A comparison of the total revenue a prospective group would generate against the transient revenue the group would replace on the same dates.
- Situational leadership styles
- Directing, coaching, supporting, and delegating, matched to follower readiness from low to high; the leader adjusts style as competence and commitment grow.
- Herzberg's two-factor theory
- Hygiene factors such as pay, working conditions, and policy prevent dissatisfaction, while motivators such as achievement, recognition, and growth produce satisfaction and motivation.
- SMART goals
- A goal-setting standard requiring objectives to be specific, measurable, achievable, relevant, and time-bound so that performance can be tracked and evaluated.
- Delegation accountability
- Delegation transfers authority and task responsibility to a subordinate, but the manager remains accountable to superiors for the results achieved.