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Candice Flynn, a manager at one of the financial services division's bank branches, needs help with scheduling employees for the month the month of
Candice Flynn, a manager at one of the financial services division's bank branches, needs help with scheduling employees for the month the month of May. She has determined that she needs a certain number of tellers for each hour of the working day (9:00 AM to 7:00 PM). Her estimated requirements appear in the following table. Time Period 9:00 AM to 10:00 AM 10:00 AM to 11:00 AM 11:00 AM to 12:00 PM 12:00 PM to 1:00 PM 1:00 PM to 2:00 PM 2:00 PM to 3:00 PM 3:00 PM to 4:00 PM 4:00 PM to 5:00 PM 5:00 PM to 6:00 PM 6:00 PM to 7:00 PM Tellers Required 10 16. 20 21 17 12 7 7 11 17 Table 1: Teller Requirements These requirements are expected to remain the same for each working day in May. The branch is expected to employ 11 full-time employees and 17 part-time employees at the end of April. Full-time employees get paid $17.50 per hour and work 8 hours each day. Full-time employees work 4 consecutive hours followed by a 1 hour unpaid break for lunch. The then finish up with 4 more consecutive hours. Part-time employees get paid $13.00 per hour and work 4 hours each day. The 4 hours are worked consecutively. For a more accurate analysis, the Accounting Department believes that the cost of benefits should be included. The cost of benefits (as a percent of earnings) is 52% and 15% for full-time and part-time employees respectively. The first goal is to develop a schedule for May. All full-time employees must be scheduled. The number of part-time can fluctuate - schedule more or less as needed. The division manager is asking Candice reduce staffing costs at the branch. The second goal is to explore any cost savings and suggest a daily employee schedule to Candice. Candice cannot change The first goal is to develop a schedule for May. All full-time employees must be scheduled. The number of part-time can fluctuate - schedule more or less as needed. The division manager is asking Candice reduce staffing costs at the branch. The second goal is to explore any cost savings and suggest a daily employee schedule to Candice. Candice cannot change hourly pay rates, benefits, or the full-time employee daily shift. Propose a schedule for Candice to give the division manager. As part of your group's analysis, identify the advantages and disadvantages of the proposed schedule and explain why the proposed schedule is better than any other possible schedules (justify why you chose this one).
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To create a schedule for May that meets the requirement of having all fulltime employees scheduled each day while also aiming to reduce staffing costs we must consider the following constraints from t...Get Instant Access to Expert-Tailored Solutions
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