Feature Article Fin 486 Final Exam
Current Basis for hourly employees is work 40 hours and get paid for 40 with no incentives. Current incentive for sale worker: 8% of sales. With no sales incentives. g) Symptoms vs. Causes: * Blanks Family Paper Company current increased turnover from 2010 to 2011, increase in HR Complaints, overall moral is all what have called a need for Employee Career Management standards. * Increased turnover, and decrease in sales have been the major sparks for change. * After interviews, employee surveys, and irrefutable turnover percentage have all been used to gauge this need for change. ) Cost Implications: * Cost and Benefit Statement * What are the annualized costs and benefits? * Do the benefits outweigh the costs? * What will be the impact on the HR budget? i) Legal Implications: * There are no foreseen legal implications. But all newly implement practices will be evaluated annually by an outside law firm to check for any discrepancies. j) Relationship Implications: * The employees have voiced their concerns thoroughly and responding positively to all suggest forms of Career Management Reform. Supervisors and Managers should be ready and willing to implement these changes. Implementations of the new changes will prove to be beneficial to all employees. Increased company moral is always a positive * These changes will have a positive effect on retention and recruiting. Employees will be willing to stay at a company who values more than the time on the clock but also the lives that are developing. Furthermore, increased company moral and proven healthy and positive Employee Career Management Program will be an huge selling point in company recruitment.
It is a major seller of college graduates who desire a career and not just a job. * Outside critics should likely be impressed by our company’s new direction and involvement in the wellbeing of our employees. * Will it impact recruiting and retention. k) Other company practices: * Solutions for Boosting Moral According to Forbes. com: a) Greenbacks are nice, of course, but barring those, Nelson discovered that most employees crave communication, involvement and autonomy. While a hearty pat on the back always feels good, extra attention and sense of ownership feel even better. ) "Every employee should be given the chance to determine how best to do their jobs, as well as increased authority and leeway in the handling of company resources," says Nelson. c) Arbill, a Philadelphia-based workplace-safety consultancy, takes that observation to heart. The company boosts morale by giving the troops more responsibility. "We created employee committees to do things like set up a health fair, a food co-op and other [projects]," says chief executive Julie Copeland. d) But the extra work doesn't just make people feel good. Watching how employees manage these committees helps us create a great bench of leaders for the company," says Copeland. e) Taking an interest in your employees also means investing in their future. That's why training and development opportunities are energizing perks. Check out the local community colleges and university-extension departments for affordable classes, and foot part or all of the tuition for eager employees. f) Company picnics? Chuck them. Employees don't care--in fact, they find them a burden. Better to grant the flexibility for personal time to handle family obligations.
Four-day work weeks are becoming popular (though they come with their own complications). If possible, consider letting people work from home one day a week--with gas at $4 a gallon, that savings will feel a like a holiday bonus. * Solutions for Battling Employee Turnover According to NFIB. com a) Surveys Employee satisfaction surveys can get to the root of workplace dissatisfaction. You might find that some people are leaving for better pay or benefits, whereas others feel they haven’t received sufficient training.
Surveys set an expectation that management will act on the findings, so be sure to publish a follow-up plan of action afterwards. b) Happiness Assessments Mary Miller, CEO of janitorial services company JANCOA, says annual turnover at her company used to be over 360%. “Come 5 o’clock every day we were trying to figure out how we were going to get buildings cleaned,” she recalls. But Miller found that addressing employees’ happiness outside of the workplace trumped other methods for improving retention at her Cincinnati-based company.
She started holding group conversations with employees to discuss what problems they faced in their personal lives—and what would make them happier overall. The company created a program called Dream Manager, whereby teams use creative ways to help employees achieve their dreams. In one case, two workers temporarily swapped schedules so that one could take a music production class. “Studies show that turnover rarely has anything to do with money,” Miller says. Through this program, Miller says she’s lowered the turnover rate to 45%. c) Hiring Practices “Most companies don’t track their quality of hire,” says Quinn.
They fail to examine retention among their best people, and so they don’t determine why their top performers are leaving. Revisit your employee selection process. Maybe conducting better interviews could weed out people who aren’t a good fit. Miller says she avoids hiring people who are concerned solely with money or don’t have any future vision for themselves. d) Consultants An outside consultant may help get more honest responses from employees and uncover blind spots in your practices. They may do on-site interviews to get to the source of dissatisfaction, and then propose solutions.
They’ll also review human resources data such as exit interviews and performance metrics to look for areas for improvement. 5. Timing: * These implementations can be presented and started almost immediately. However, I would Sales Employees a month to make any adjustments to their sales tactics that they deem necessary. 6. Evaluation of Alternatives * Alternative: Keeping the Current Employee Career Management as is. * Advantages: * No new investments will have to be made. * Employees will not have to restructure their current method of work * Disadvantages The very obvious dissatisfaction from employees will have not been address * Turnover will also not be addressed and will continue to be an issue and a non-selling point for recruitment. 7. Implementation * Specific Actions to be Taken and Time Table: * Complete Analysis of Verbal Surveys: 1 Month * Management Training for Mini-Management Training Seminars: 2 Months * Introduction of New Career Management Program to Hourly Workers and Sales Team: 1 Staff Meeting * Begin New Program: 1 Month after Introduction 8. Appendices (samples of forms used)