BUS225_Module_Two_Assignment_

docx

School

Southern New Hampshire University *

*We aren’t endorsed by this school

Course

225

Subject

Business

Date

Feb 20, 2024

Type

docx

Pages

3

Uploaded by UltraIce11344

Report
1 Module Two Assignment Southern New Hampshire University BUS 225: Critical Business Skills for Success May 14, 2023
2 Module Two Assignment Interpretation Both qualitative and quantitative data are provided in the performance spreadsheet provided. The spreadsheet provides employee ID numbers, date of hire, department, performance score, manager commentary, salary, bonus, and overtime. Although qualitative and quantitative can be separate data it can overlap within the same data provided, just like in this case. Some quantitative data that is not so clear but can be determined are the number of employees, 77, and average performance score. The spread provides the information to calculate the average performance score of our employees which is 3, which is rounding 2.8 up. This knowledge allows us to take a further look into the 5 employees with a score of 1 and the 6 employees with a score of 2. Our accounting fields and departments currently hold a total of 5 of these employees in accounting planning, account service, and finance and accounting all having employees with a performance score of 1, while account service also consists of another two employees with a performance score of 2. The remaining low-scoring employees, although important, will discuss this a bit further. The company is currently struggling with a significant loss of revenue but before considering operational costs the company should redirect its attention to account service and the other accounting departments because of the number of low-performance employees. There could also be a secondary issue with a low-scoring management employee (2) and a manufacturing essential employee (1). Reviewing the accounting departments prior to the operation costs is essential because of the questions that emerged while interpreting the data. Are accounts being charged when needed? Are charges being imputed correctly? Are charges being imputed in a timely manner? Are accounts being observed and communicated properly? Are accounting plans being created and managed properly? Is there proper communication regarding accounts, services, fees, and charges? Where are the low-scoring employees located? Do the low-scoring employees have manager comments? All these questions can determine that there can be errors associated with the loss in revenue and the company’s accounting departments, specifically the account service department.
3 Analysis The data helped determine the usage status of the company's financial resources by providing the data needed to identify the department that could have the most potential issues. The performance scores and manager commentary allowed us to break down the departments into two categories, Departments with low-scoring employees and departments with no low-scoring employees. The categorizing of departments allowed us to observe where 45% of those employees were placed within the department, which was within the accounting departments of the company. To properly reduce human resources expenses using the performance data of the employees there needs to be a more detailed performance score. The score currently given does not indicate how the employee was scored, where the employee holds their strengths or weaknesses, and who performed the evaluation. These are important decision-making factors because it provides a more in-depth observation of the employees, which can detect biased results, that allow one to determine if the employee and company would benefit from training or a reduction in human resource expenses. Primary and secondary sources are also a great and important help with decision-making. Adding individual interviews or evaluations done by myself would allow bias or incorrect information to come to light. Interviewing all managers and employees regarding the low- scoring employees and accounting departments could provide more qualitative data from different perspectives throughout the company. Conclusion The best strategy to reduce the payroll budget by 10% would begin by evaluating the work in the account service department to determine how customer financial accounts and other customer records are being managed. This will allow for error corrections, the input of missing information, a new employee evaluation, and a recalculation of revenue loss for the period. After this process, reducing staff would be the next necessary step in reducing the budget by 10%. The decision for this strategy comes with the knowledge of 3 low-performing employees managing customer financial accounts and other records. Low-performing employees could cause errors and miscommunication that could affect revenue and loss. After fulfilling the first step, the next step is to reduce staff; a step that cannot be avoided. This is because errors and miscommunication in account services can affect revenue causing the termination of those low- performing employees. If the evaluation determines no major changes or effects to revenue occurred, low-performing employees throughout the company would be re-evaluated pending a termination to reduce the 10%.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help

Related Documents

Case1 ChatGPT.docx
Chapter 04 - Using Online Calculators to Computer RF Behavior Assignment - Part II - Sara Foss.docx
Summative Assessment written.docx
Morrow_Assignment1.docx
Research Project.docx
HW21_Solution.pdf
Int-220_Global Dimensions.docx
BUS225_Project_Four.docx
BUS 400 Milestone Two Zachary Colby.pptm
CLS–Practice Exam.pdf
Module 8 Portfilo Project Option1 Part B-FINAL.docx
Papeer revised.docx
Recommended textbooks for you
Text book image
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Text book image
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
SEE MORE TEXTBOOKS
Recommended textbooks for you
Text book image
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Text book image
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
SEE MORE TEXTBOOKS