What decision worked for you as you thought they would

Subject: Business-to-Business Marketing

Paper Model: APA

Paper Type: Business Plan

Total Words: 597

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What would you do differently if you completed the simulation again?

 


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As human resource manager, I have to make decisions on various levels. First decision is for staffing of employees. I have to decide whether it will be more beneficial to hire new employees or to train existing employees. Budget that is available for this year is $14, 00,000. For first quarter, this spending is $350,000. New hiring required direct cost while promotion does not require direct cost. It required more training. I would prefer to hire new workers for first three positions with total coat of $41,000. At 4th and 5th level only training would be provided. Layoff cost is estimated as 50% of hiring. For increasing the diversity of workforce number of female and minority is increased.

Employee turnover rate is reduced by motivating and retaining old employees. It will increase productivity and performance. Turnover rate is estimated to be 4% for first quarter. At first level, five more employees are hired and they are trained with existing employees. This training will increase productivity. Wage rate of company is lower than average rate of firm. This can be a reason of high employee’s turnover. Wage rate of employees is increased at each level. Total wages now required for existing employees, new nine employees would be more than existing wages, and it will be entered in simulation. Amount invested for wages is $110,000.

Direct coat that was reduced in initial step is used in training. Training cost available is $240,000. This total coat is used for training of new hire and existing employee’s promotions. Now total budget that is used is $121,000. For training, employee’s appraisal system is selected from available programs. Other budget is separated for meeting emergency cost for example layoff cost and other contingencies. This is the list of decision selected for this company at different level.

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