BUS225_Module_Two_Assignment

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1 Module Two Assignment Cassie Mendoza Southern New Hampshire University BUS 225: Critical Business Skills for Success Jevaun Hamilton February 4, 2024

2 Module Two Assignment Interpretation My main goal to start working on with HR would be to improve employee efficiency. The quan- titative data would include facts such as employee salaries, bonuses, performance ratings and over time. The employees are consistently making between $42,000 and $78,000, while the managers are making a much higher annual salary between $237,000 and $370,000. It seems that many of our employees who are receiving lower pay, are some of our most highly rated employees. The qualitative data seems to include the employee's department and the feedback provided by the management team. Of the employee provided, only thirteen have been provided man- agement feedback. The feedback from the leadership team does not seem to be very descrip- tive, which leads me to believe that the employees made need more motivation. More positive feedback could prove to be an effective motivator. The spreadsheet provides comprehensive information regarding employee performance, ten- ure in the company, departmental affiliation, salary structure, and overtime compensation. Qualitative data includes the correlation between performance ratings and any overtime hours. Additionally, the sheet contains data on employee retention and enabling department-specific retention analysis based on joining dates. It also facilitates insights into department-wise met- rics such as the number of employees, performance levels, salary and benefits expenses, and the relationship between tenure and performance. 1.) Which department is the most productive? 2.) Why do some departments pay more for overtime? 3.) What is the link between the overall performance of an employee and their salary? 4.) Which department posses the highest salary? Analysis HR relies on employee compensation data to make informed decisions regarding recruitment, retention, budgeting, performance management, compliance, and transparency. Through effec- tive analysis and utilization of data, HR can foster a more engaged and efficient workforce, aligning with the company's goals and objectives. When formulating a strategy for human resource expenses, it is imperative to consider various additional data points. The first data point would be benefits costs, encompassing expenditures on healthcare, retirement plans, and other perks. These all contribute significantly to the total

3 expense. Secondly, turnover rates should be examined, as they can serve as indicators of poten- tial issues within the company culture. Thirdly, understanding recruiting costs, including the ex- penses associated with the current recruitment process, can provide valuable insights for iden- tifying areas of improvement. Lastly, training costs should be taken into account, recognizing that investments in employee training and development. These considerations collectively con- tribute to a comprehensive approach in managing and optimizing human resource expendi- tures. Primary sources that could help the company made a decision include surveys, interviews, and focus groups. Conclusion To achieve a 10% reduction in the budget, a data-driven approach is essential. This strategic fi- nancial management isn't an arbitrary decision; instead, it demands a meticulous examination and analysis of the organization's patterns. The objective is to formulate a cost-cutting plan that minimally affects the organization's performance, productivity, andvits overarching objectives and goals. The strategy should be comprehensive, addressing not only specific areas but en- compassing the entire spectrum of the business. In my efforts to cut costs, I've leveraged data to pinpoint inefficiencies. By scrutinizing spending patterns, it becomes possible to identify cost drivers and potential opportunities for savings. For instance, an analysis of data might reveal possibilities for bulk purchases or contract renegotia- tions. Examining utility use data allows for the identification of waste and areas for improve- ment. Worker data analysis can unveil instances of overstaffing or opportunities for automa- tion. Applying these insights ensures the effective reduction and this data-driven methodology promises strategic, long-term cost savings.

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4 References 1. Soomo Learning. (2020). Critical business skills for success . https://www.webtexts.com

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