HRM 360 Data Analysis Checklist Template
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School
Southern New Hampshire University *
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Course
360
Subject
Information Systems
Date
Feb 20, 2024
Type
docx
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4
Uploaded by jdharding1202
HRM 360 Data Analysis Checklist Template
Checklist Investigation Steps (Milestone One)
Determine what information is required for the research.
Identify how to access the data in the human resource information system.
Calculate the turnover rates for tellers in all branches.
Assimilate data into spreadsheets.
Research external sources to determine turnover trends.
Complete comparison of internal turnover data with external trends.
Draw conclusions based on the internal and external data (e.g., turnover at trend, turnover higher or lower than trend).
Develop a PowerPoint presentation with information and conclusions.
Identify key stakeholders for a discovery meeting.
Investigation Steps
Reasoning Behind Your Choice
Determine what information is required for the research
By narrowing down what information is required will allow the investigation to remain fluid, resulting in a more organized process that stays on task to investigating the facts of the problem. This limits time searching unnecessary information.
Identify how to access the data in the HRIS
By accessing the HRIS we can utilize employee records to determine the number of employees terminated or resigned in a given period to calculate turnover rate. We will also be able to check employee salaries to see if they are comparable to local and national levels as well as competitors. Calculate turnover rate for tellers at all branches. We will be able to view if a branch is responsible for a higher contribution of the overall problem.
Assimilate data into spreadsheets.
This allows us to more easily view the data as well use graphics to compare the data across all three branches.
Research external sources to determine turnover trends.
Through external sources we will be able to determine if our turnover rate is comparable to those within our industry. We will also be able to
gain insight into reasons for turnover.
Complete comparison of internal turnover data with external trends.
This will help us to compare our turnover with those within our industry to see if they are similar.
Draw conclusions based on internal and external data.
Drawn conclusions will allow us to address the issue at hand and determine a course of action to
address the issue.
Develop a power point presentation with information and conclusions. This will allow us to better present our findings to
those involved with the investigation (HR Manager and Branch Managers).
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Investigation Steps
Reasoning Behind Your Choice
Identify stakeholders for discovery meeting. This will allow us to identify those involved in this
process and who we need to inform of our findings. Data Sources (Milestone One)
The data sources we will use will be the employee records from our HRIS. The employee
records will allow us to determine the number of employees we have, their tenure, and their date
of resignation or termination. This will allow us to calculate the turnover rate. We can further
separate this by branch to see if the turnover rate is higher than at another branch. We will also
use external sources to compare the turnover rate at our branches to those within our industry.
We also use external sources to compare our turnover to our competitors to find similarities and
differences. External data sources will allow us to compare our salaries with those of local and
national salaries to see if they are comparable. We can also use salary comparisons with our
competitors to determine if equity is an issue with turnover. Another key source of data we can
use in our investigation is employee surveys and exit interviews. Both sets of data will give us
insight into why employees may be leaving. Surveys provide us with how employees feel about
their position and the working environment. Exit interviews will provide us with why the
employee resigned. Collection of data from all sources will provide us with a greater level of
insight into the reason behind the unusually higher turnover rate we are experiencing at our three
local branches and how to address the issue we are experiencing. Data Analysis (Milestone Two)
Turnover Rate:
Smallville 20.7%, Suburbanville 17.2%, Cityville 24.3%
To calculate the Average Turnover Rate for each branch I first calculated the average number of employees throughout the year. I then divided that average into the number of terminations for that branch in the same year. For example, for the Smallville branch the average number of employees throughout the year was 15 and there were 3 terminations in that year. Thus, 3 terminations divided by 15 equals 20.7%. I continued to use this same formula for the Suburbanville and Cityville branches.
According to a 2022 American Bankers Association survey the turnover rate among non-officers
in the banking industry is 23.4% (ABA Banking Journal, 2022). Given this data only our Cityville branch at 24.3% is above the national average for turnover rate of 23.4%. Average Pay Rate: The Average Hourly Pay Rate by Branch are as follows: Smallville ($11.43), Suburbanville ($13.44), and Cityville ($16.21). The Average Number of Years Worked by Branch are as follows: Smallville (2.50 years), Suburbanville (3.13 years), and Cityville (3.21 years).
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Average Market Pay Rate:
Years Experience
Annual Pay
Total Annual Pay 1.5
23,920.00
$ 24,409.75
$ 2
30,120.00
$ 32,490.00
$ 2.5
27,535.00
$ 29,533.13
$ 3
27,446.50
$ 29,661.75
$ 3.5
34,287.00
$ 37,825.75
$ 3.75
34,221.00
$ 36,331.25
$ 4
33,800.00
$ 37,229.38
$ 5
29,120.00
$ 31,093.50
$ 3.16
30,056.19
$ 32,321.81
$ To calculate the Average Market Pay Rate for our branches based on years of experience I took the average number of employees with the same years of experience and the average of their annual regular pay. I did the same to calculate the average of the total annual pay. According to O*Net Online data the average salary for tellers is $36,380 annually. Where lower 10% of tellers earn $28,570 annually and upper 10% of tellers earns $46,350 annually (National Center for O*NET Development, 2023). This would put our tellers for all three branches at less than the national average with overtime and incentives included, however without those considerations, all of our tellers would average closer to the lower 10% according to O*Net data (National Center for O*NET Development, 2023). This data closely relates to a 2023 Crowe bank compensation and benefits survey. In the 2023 Crowe survey, tellers are ranked as tellers I ($31,930), II (33,749), and III ($36,375). The average salary in 2023 for those positions was $33,838 (White & Lori, 2023). Other Considerations: After reviewing data regarding salary and compensation in determining the reason behind the unusually high turnover rate in our three local branches, we must consider other possibilities as well. We have reviewed exit interviews from seven of our former employees to assess if there are other circumstances that may have contributed to the unusually high turnover rate we are experiencing. According to the two exit interviews conducted at the Smallville branch, the employees left for reasons beyond our control. One returned to college full-time and the other accepted an opportunity in another state. The employee who took a position out of state did state that their new position offered better job benefits. Both employees stated that initially training was abundant but lagged the longer they were there. They also noted that compensation could have been better. 3
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When reviewing the two exit interviews we have received from the Suburbanville branch both employees mentioned that continual training was nearly non-existent. Although training was good when they first started in their position, it diminished the longer they were employed. Compensation may have contributed to their departure. Although one employee stated that they were happy with their compensation, they ultimately left due to a better offer and opportunity with a competitor. The second employee flatly stated that “Nope, not paid enough for all the stuff we were supposed to know about”. At our Cityville branch, all three exit interviews were conducted, and the interviewees’ stated training was a non-issue and was always available. Management was also very proactive in providing employees with needed training. Two of the three employees stated that they did not like working at this branch and contributed to their departure. All three employees specifically mentioned that management played a role in their displeasure with their employment. One employee left the branch due to relocation and would have stayed. One major
concern at this branch was the behavior of management. Two employees were adamant in their displeasure with management while the third employee mentioned one manager in particular. This issue is something that we may need to investigate further. All three employees felt as though they were compensated well during their tenure. Overall, compensation may play a factor in the unusually high turnover rate at all three branches, however, there are other factors that are affecting turnover as well. Training seems to be an issue. Although training is available it appears that it is not continuous nor structured in a manner that makes it sustainable. Management, at least at one of our branches, seems to be a factor in the turnover rate. All of these factors need to be reviewed further as it seems to be numerous factors behind the unusually high turnover rate that we are experiencing. Data Sources: ABA Banking Journal. (2022, September 7). Report: Non-officer employee turnover returns to pre-COVID Levels
. https://bankingjournal.aba.com/2022/09/non-officer-employee-
turnover-returns-to-pre-covid-levels/?_gl=1%2A1kni7eq%2A_ga
%2AMTUyMTIyMDc4MC4xNzA3NTI0MzYx%2A_ga_SYPZD5B62B
%2AMTcwNzUyNDM2MS4xLjEuMTcwNzUyNTE3MC4xOC4wLjA. National Center for O*NET Development. (2023, November 15). Tellers . My Next Move. https://www.mynextmove.org/profile/summary/43-3071.00 White, S., & Lori, D. (2023, September 13). 2023 Crowe Bank compensation and benefits survey: Crowe LLP
. Crowe. https://www.crowe.com/compsurvey 4