BUS225_Module_Two_Assignment

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1 Module Two Assignment Abigail Morales Southern New Hampshire University BUS 225: Critical Business Skills for Success Jeff Gagne March 17, 2024

2 Module Two Assignment Interpretation Based on the information provided, I now have access to the employees' ID numbers, but no names are provided. I can view their date of hire, the department to which they report, their individual performance scores, salary, bonus level, and the amount they earn during overtime. I also receive any manager comments they may have about their particular employees. I can learn a few things about the personnel. The first thing I see is their date of hire. This allows me to establish how long they have worked here and which department they report to. I can also evaluate their value to the organization based on their performance score and, in some situations, remarks made by their bosses. Some of these comments may suggest that they are an essential employee, while others may indicate that they require improvement. I can also see how much each person earns in salary, bonus, and overtime. All of this data allows me to establish how important they are to our company's success, who is and isn't fulfilling the criteria, and where we might need to improve. Why aren't there more comments from the managers? How do salaries affect employee performance? Where can we minimize costs while increasing or maintaining performance? Why are bonuses the same for all employees? The entire IT staff is working overtime. Why is this happening? Is there a plan in place to address underperformance among employees? Analysis Despite the limited data, I can obtain a snapshot of the company's finances, employee performance ratings, and length of employment. There is a clear bonus and salary system for the 77 distinct employees. The lowest wage is $42,000, the maximum income is $370,834, and all employees, with the exception of management, receive a $2,000 bonus. The entire IT department, 5 manufacturing staff, and 4 salespeople earned bonuses. The awards range from $1,100 and $5,000. There is a significant absence of qualitative data in this study, particularly in the employee reviews. The survey indicates that managers are not following a consistent approach when evaluating personnel. We cannot see who is participating because the report does not disclose which managers left comments. There is also no historical data to compare against, so we are unable to detect any positive or negative patterns. It would be good to learn how employee salaries and bonuses are established. This report does not include any information regarding sales volumes, company performance, industry

3 performance, or revenue gains and losses. This information is required to make any decisions about how to minimize the company's budget. Conclusion It is tough to offer a strategy based on the information presented, but I believe we should restructure the salary, bonuses, and overtime hours. The first modification I would make would be to abolish awards for underperforming staff while awarding bonuses to those that get a 3 or 4. This will cut expenses by $20,000 alone. A cut in managers' wages would likewise be extremely cost-effective. The lowest-paid boss earns three times more than the highest-paid employee. By lowering all managers' wages by 20%, we could save an additional $400,000. By using this technique, you are transforming the pay structure into a performance-based system, with bonuses becoming a natural component of each employee's remuneration. This will not affect the high achievers and will encourage the low performers to accomplish their jobs more successfully. This will help to boost production and income for the company. By lowering manager wages, we will be able to fulfill the 10% cost reduction target. This may frustrate managers at first, but it should inspire them to improve their performance and manage more efficiently.By doing this, they will be able to optimize company operations on the back end and aid to generate revenue, putting that money back in their pockets.

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

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