08 Jul Exercise: Calculation the costs and benefits of tr
Exercise: Calculation the costs and benefits of trainingAssume you work in the HRD function for a large manufacturing facility. Employees have been placed into work teams, and top management is now considering providing additional formal cross-training to team members, so that people will be able to do a variety of different tasks within their teams. However, the lowest possible cost available for a high quality-training program is determined to be 7,500 SR per employee. In the light of this cost, management has asked you to estimate the potential value (utility) of this training program. Initial training will be provided to thirty team members, and their performance will be compared to thirty other who have not been trained. To be conservative, you have decided to assume that the effect of training last for one year.After training, you find that the trained employees can now produce an average of 26 unit per day, while the untrained employees produce 22.5 units per day. The standard deviation in units produced turns out to be 5 units per day. From your company recorded you found that the financial value of untrained employees was 37,500 SR.Using the formula from Cascio that we took in this course, what is the projected benefit to the organization of training those thirty team members? What was the cost? What is the estimated change in utility of the training? How would you present this information to the top management, as they consider whether to use the training program for others employees in the organization?
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.