Which of the following refers to Full-Time Equivalent in a workforce context?

Full-Time Equivalent, commonly abbreviated as FTE, is a standard measurement used to represent the workload of an employed person in a way that makes workloads comparable across various contexts. This concept allows employers to gauge the productivity and size of their workforce by converting the hours worked by all employees (both full-time and part-time) into the equivalent number of full-time employees.

In practice, one FTE typically represents a standard full-time work schedule, often defined as 40 hours per week. By summing the hours worked by part-time employees and dividing that total by the standard full-time hours, organizations can calculate their total FTEs. This metric is crucial for understanding employee capacity, budgeting for labor costs, and assessing resource allocation in workplaces.

The other terms mentioned do not match this concept. They refer to different aspects of employment or business terminology, which highlights how precise terminology is essential in workforce discussions and analyses.