Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ONLY QUESTION IN BLUE TO ANSWER Question 3 Q2 p9 l Q2 Pg 2 Appendix 1 TURNOVER INFORMATION FROM COMMUNIQUE'S HRIS Table 1. Job Categories

image text in transcribed

ONLY QUESTION IN BLUE TO ANSWER

Question 3 Q2 p9 l Q2 Pg 2 Appendix 1 TURNOVER INFORMATION FROM COMMUNIQUE'S HRIS Table 1. Job Categories and Turnover Rates Job Category No. of Employees Annual Turnover Rates in 2019 within Job Category Digital & Media Specialists 80 30% Marketing Managers 20 20% Total 100 Communique provides strategic public relations consultancy for companies seeking to engage in digital branding and social marketing. The agency has built up a team of seasoned digital and media specialists since its entry into Singapore in the 2000s. Communique has won many accolades for its knack in designing engaging digital marketing campaigns. However, turnover among the marketing specialists appears to be on the rise after the retirement of the incumbent Creative Director. The average turnover rate in the marketing industry is 10%. Oliver, the CEO, is concerned and has directed Joyce, the HR Director, to provide an assessment of the rate and impact of turnover at the next management meeting. As the HR manager, you have been tasked to prepare the management brief with the information drawn from the HR information system (see Appendix 1). (a) Distinguish between the different types of employee separations, and explain which type of separation should Communique be concerned with and why. Table 2. Profile of Leavers Job Category Perf Grade Digital & Media Specialists Good Average Poor Marketing Managers Good Average Poor Total Number of Departures 10 6 8 3 0 1 28 (b) Describe ONE (1) metric that you could use to determine if turnover is an issue in Communique using data provided in Appendix I, and assess if turnover is indeed a problem using this metric. (C) Yalculate the annual cost of turnover for Communique. Table 3. Average Hourly Compensation of Current Employees Digital & Media Specialists S30.70 per hour (Mid-Pt Ave Hourly - $28.00) Marketing Managers $45.35 per hour (Mid-Pt Ave Hourly - $45.00) HR Executive $20.20 per hour HR Manager S43.80 per hour Table 4. Average Hourly Compensation of New Hires Digital & Media Specialists $25.50 per hour Marketing Managers S4060 per hour Exit procedure for cach departing staff: A 30 min exit interview by a HR Manager A HR executive requires 2 hours to process the resignation Recruitment activities for cach vacated position: Cost of job advertising per vacancy at $500 Each job application is processed by a HR executive and takes 2 hours. There is an average of 8 applicants per vacancy . Shortlisted applicants go through a 30 min job interview with a HR Manager. Two applicants are shortlisted for each vacant position On-boarding of new hires: 3hr orientation brief by an HR executive. 1-month on-the-job mentoring by Marketing Manager. The Marketing Manager spends Shrs per work week mentoring the new recruit. There is an average of 4 work weeks in a month The company estimates that it loses a contract value of $20,000 and $50,000 with every departure of digital and media specialists and marketing manager respectively. During the management brief, you propose to invest in HR measurement to monitor and understand tumover within the company. The Chief Finance Officer, Malcolm, was not supportive and remarked that "There is no need to measure anymore. We know it is a problem, we should solve it. The money is better spend on initiatives to retain the staff.' (d) Discuss if you agree or disagree with Malcolm's remarks, and provide reasons for your position with illustration JL 1 Question 3 Q2 p9 l Q2 Pg 2 Appendix 1 TURNOVER INFORMATION FROM COMMUNIQUE'S HRIS Table 1. Job Categories and Turnover Rates Job Category No. of Employees Annual Turnover Rates in 2019 within Job Category Digital & Media Specialists 80 30% Marketing Managers 20 20% Total 100 Communique provides strategic public relations consultancy for companies seeking to engage in digital branding and social marketing. The agency has built up a team of seasoned digital and media specialists since its entry into Singapore in the 2000s. Communique has won many accolades for its knack in designing engaging digital marketing campaigns. However, turnover among the marketing specialists appears to be on the rise after the retirement of the incumbent Creative Director. The average turnover rate in the marketing industry is 10%. Oliver, the CEO, is concerned and has directed Joyce, the HR Director, to provide an assessment of the rate and impact of turnover at the next management meeting. As the HR manager, you have been tasked to prepare the management brief with the information drawn from the HR information system (see Appendix 1). (a) Distinguish between the different types of employee separations, and explain which type of separation should Communique be concerned with and why. Table 2. Profile of Leavers Job Category Perf Grade Digital & Media Specialists Good Average Poor Marketing Managers Good Average Poor Total Number of Departures 10 6 8 3 0 1 28 (b) Describe ONE (1) metric that you could use to determine if turnover is an issue in Communique using data provided in Appendix I, and assess if turnover is indeed a problem using this metric. (C) Yalculate the annual cost of turnover for Communique. Table 3. Average Hourly Compensation of Current Employees Digital & Media Specialists S30.70 per hour (Mid-Pt Ave Hourly - $28.00) Marketing Managers $45.35 per hour (Mid-Pt Ave Hourly - $45.00) HR Executive $20.20 per hour HR Manager S43.80 per hour Table 4. Average Hourly Compensation of New Hires Digital & Media Specialists $25.50 per hour Marketing Managers S4060 per hour Exit procedure for cach departing staff: A 30 min exit interview by a HR Manager A HR executive requires 2 hours to process the resignation Recruitment activities for cach vacated position: Cost of job advertising per vacancy at $500 Each job application is processed by a HR executive and takes 2 hours. There is an average of 8 applicants per vacancy . Shortlisted applicants go through a 30 min job interview with a HR Manager. Two applicants are shortlisted for each vacant position On-boarding of new hires: 3hr orientation brief by an HR executive. 1-month on-the-job mentoring by Marketing Manager. The Marketing Manager spends Shrs per work week mentoring the new recruit. There is an average of 4 work weeks in a month The company estimates that it loses a contract value of $20,000 and $50,000 with every departure of digital and media specialists and marketing manager respectively. During the management brief, you propose to invest in HR measurement to monitor and understand tumover within the company. The Chief Finance Officer, Malcolm, was not supportive and remarked that "There is no need to measure anymore. We know it is a problem, we should solve it. The money is better spend on initiatives to retain the staff.' (d) Discuss if you agree or disagree with Malcolm's remarks, and provide reasons for your position with illustration JL 1

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Walter Harrison, Wendy Tietz, C. Thomas, Greg Berberich, Catherine Seguin

7th Canadian Edition

0135433061, 9780135433065

More Books

Students also viewed these Accounting questions

Question

Imagine you remain in the job listed under point

Answered: 1 week ago