# Human Resource Management Study Set 17

## Quiz 5 :Human Resources Planning

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Your company has reaped the benefits of having long-term, tenured employees, but many of them are now approaching retirement. It is anticipated that approximately 20% of the company's workforce will retire in the next three to five years. In reviewing the remaining workforce through HR planning efforts, you have become aware of work-life balance issues that need to be reviewed and addressed. The company president has requested that you prepare a retention plan outlining these issues as well as ways to address them. Resources to help you address the issues in the retention plan can be found at www.workfamily.com. A. What steps will you take to identify key priorities in the work-life balance issues? B. How will you present a business case to gain management support for addressing those issues to help retain existing workers and to fill the positions vacated by retiring employees?
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a) Work-life balance is an important thing for employees and employers. It serves as a better retention tool if managed properly. Also it can cost organizations a lot if not managed as it might cause attrition in the organization. To find out the key priorities in the work-life balance issues the HR must conduct surveys, satisfaction surveys, one to one discussions etc with employees and analyze the problems existing in the system and how they can be resolved.
Using this they can also ascertain the things which will work well for different employees to manage the work-life balance issues. They can also work on exit interviews, sometimes the employee leaving the organizations gives greater insights about the organization which if worked upon carefully can help in retaining the employees and provide them the needed work-life balance or other things. Thus the exit interviews should be well planned and the findings should be worked on seriously to improve the organization.
b.) A case showing that the new hires will cost much in terms of hiring as well as to adapt in the organization culture and perform after learning. The turnover rate also has a negative impact on the motivation and morale of new and existing employees which will further cost the organization as that can lead to voluntary turn out as well.
Those who have already been with the organization, when get career advancement within the organization the chances of them leaving the organization will be very less and also they tend to be more efficient. This helps organization to achieve the goals at a lower cost and also the motivation level of the employees is high. Thus retaining the existing employees and promoting them to fill the positions vacated by the retiring employees is a better and feasible thing with regard to achieving organization goals efficiently effectively.

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If you became the new manager at a restaurant with high employee turnover, what actions would you take to increase retention of employees?
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Employee retention is a process which includes all the activities and strategies to retain talented employees in the organization. It is a major challenge faced by the Human Resource department in these days.
The following are the actions that would increase retention of employees:
• First the restaurant should conduct exit interview to identify the reasons behind turnover rate
• Organizations need to taking care of its people in terms of their growth opportunities. This is possible by providing training or making them to learn something new.
For example, a restaurant can train its employees on how to communicate with customers about different products they offer
• Almost in all the cases human beings compare their job with the salary cheque which is going to be received at the end of the month. But before money, employees also want a sense of achievement and understand the purpose of their work.
So recognize their efforts whenever they did something different which had positive effect
• The managers should encourage their employees to develop a passion towards their work. It will help the organization when employee also has self interest in the job, which can be aligned with organizational interest.
• The relationships between employees and managers should be healthy. Managers should be provided with sufficient training to provide assistance for subordinates
• Commitment and loyalty is always a two-way process. If an organization wants its employees to be committed and loyal towards his job then the same way around an employee also expects the same loyalty from the employer's side when it comes to job security and growth opportunities in terms of both monetary rewards and organizational status and position.
These are some of the activities that can be implemented to reduce the turnover rate. If the recruitment process is standardized, turnover can be reduced. The employees should be selected in such a way that they are able to fulfill their current responsibilities and also capable of fulfilling future responsibilities.

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As the HR manager, you must provide the senior management team with turnover costs for the following high-turnover position. Use websites such as www.talentkeepers.com and www.keepemployees.com, to calculate turnover and analyze the variables involved. Also identify any other data that might be relevant, and then discuss how you would reduce the turnover. Position: Machine operator Number of employees: 250 Number of turnovers: 85 Average wage: $11.50/hour Cost of benefits: 35% of payroll Free Essay Answer: Answer: One of the major problems faced by the HR department is high attrition rate and talent retention in the organization. To reduce the turnover rates, organizations have started using more standard methods to get accurate results of performance of strategies. Measurement of employee turnover could be achieved by using a formula that has been derived to measure the turnover rate in a highly positive atmosphere. The following turnover costs are to be reported to senior management: • Annual salary and benefits of the employee who left the organization • Cost incurred to the company due to vacancy • Costs involved in recruiting and training a new candidate • Total cost incurred by loss of employees in a particular period Formula to measure employee turnover rate: Thus, it has been derived from the above calculation that the turnover rate of the position of Machine operator in the company is 34%. And the variables involved are average wage$11.50/hour.
Steps to reduce the turnover rate:
• Conduct exit interview to identify the reasons behind turnover rate
• Organizations need to taking care of its people in terms of their growth opportunities. This is possible by providing training or making them to learn something new.
• Almost in all the cases human beings compare their job with the salary cheque which is going to be received at the end of the month. But before money, employees also want a sense of achievement and understand the purpose of their work.
So recognize their efforts whenever they did something different which had positive effect
• The managers should encourage their employees to develop a passion towards their work. It will help the organization when employee also has self interest in the job, which can be aligned with organizational interest.
• The relationships between employees and managers should be healthy. Managers should be provided with sufficient training to provide assistance for subordinates
• Commitment and loyalty is always a two-way process. If an organization wants its employees to be committed and loyal towards his job then the same way around an employee also expects the same from the management and job
These are some of the strategiess that can be implemented to reduce the turnover rate. If the recruitment process is standardized, turnover can be reduced. The employees should be selected in such a way that they are able to fulfill their current responsibilities and also capable of fulfilling future responsibilities.

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Describe your expectations for a job. How well does your employer meet the expectations you bring to the psychological contract?
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