05 Jun Question The Context You are the Director of Human Resources at a large
Question
The Context
You are the Director of Human Resources at a large, global company that employs thousands of people. The CEO has asked you to consider a new employee benefits program for the company and is open to your suggestions and analysis. To guide you, she has asked you to tackle a few different issues, per the questions that follow.
Please treat each question separately. That is, do not use the information provided in a particular question or your answers from a particular question in any other question, unless otherwise specified.
•You should answer each part of every question. Remember that you must show your work to get full credit.
• Please label your answers when appropriate. For instance, if the question asks “how much money …?” your answer should include a dollar sign.
Question 1. (9 points)
If you were to implement a new employee benefits program, there would be significant upfront and annual costs, but also significant benefit. The CEO is insistent that any new project yield a positive net present value.
After a little research, you believe the following to be true:
• The upfront (immediate) costs would total $5 million
• The only other costs would be the annual administrative cost, totaling $600,000 in the first year and increasing by 5% for each subsequent year
• The benefits to this project would be $1.3 million in the first year and increase by 6% for each subsequent year
a) Very briefly describe three positive outcomes of the new benefits program that might be included within the annual benefit calculation. That is, name three “good things” that might arise due to the program. (1 point)
b) Does the investment yield a positive net present value? If your answer is “it depends,” then clearly describe the dependency. Please make sure to clearly explain how you arrive at your answer and that you clearly identify and explain any additional assumptions or information you incorporate into the problem, should you feel it necessary to do so. (8 points)
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