Companies need to look at their employees as individuals whose ability to produce will ebb and flow over time. Underestimating the effects of human variation on the company's bottom line costs companies millions of dollars each year.
The article uses the example of employees who work in call centers. It is a given that all jobs involve some sort of learning curve, and also that some people will learn to perform their jobs productively faster than others. Companies must be aware of how long it takes a good employee to become highly productive. Not having this knowledge can be costly: suppose it takes a customer service representative six months to learn the job, but that employee leaves the company in seven months? In that case the company has only gotten peak performance from that employee for one month. If the employee leaves after five months, they never get the benefit of that employee's best, most profitable work. Experienced staff make fewer errors and put less stress on supervisory employees.
Companies at particular risk are those with a high learning curve when the employees have little incentive to stay with the company. Companies should collect data so they know the training costs for employees, the true cost and productivity for these employees. They need to know why productive employees leave the company. Recruitment Process Outsourcing (RPO) can tailor the job search precisely for the company and reduce employee turnover. Research has identified specific factors that lead to rapid employee turnover, which include jobs that require a lot of training but that don't provide much opportunity for advancement, especially when accompanied by a long learning curve and long period (six months) before the employee is fully productive, accompanied by high turnover rate.
By analyzing the job life cycle for such jobs, management can identify problem areas in the job life cycle and develop solutions that will increase employee satisfaction as well as help diminish employee turnover.
Identification When one company looks at taking over another company that are many issues that must be looked at before a final bid can be put on the table. The first thing that the buying company must do is determine a vision for the combined companies. In the case of Oracles buy out of Sun Microsystems the visions that Oracles' Ellison was to transform the combination of the two companies
A second major advantage of online catalogs over their printed counterparts is speed of updating; with the web you can update a catalog literally overnight. There is also the advantage of being able to quickly change pricing with an online catalog, with a printed catalog this is simply not the case. The advantages of a printed catalog include greater depth to the products presented, more "shelf life" of the
What social networks will need to do however is tread the line between keeping and growing user trust vs. monetizing their content. Trust within social networks and online communities have been studied for decades with the results showing transparency is critical for trust to continually be strengthened (Beth, Borcherding, Klein, 1994). There are several strategic directions that social networks could go with the data captured, yet by far the
Company audit occurs when there is need to examine the performance of a big company especially the financial and the accounting records over a given period of time. Professionals such as the certified public accountant always do the auditing. The audit of a company is significant in the verification of accuracy particularly in the accounting records. A company like coca cola will need an audit to help in verifying their
Company's Compensation And Benefit Package A number of factors determine how a company compensates its employees. These factors may include economics, psychology and even sociology. To an economist compensation is viewed as a labor market determinant (Filer, Hammermesh, & Rees, 1996). As a human resource manager for Vanguard Industries I have been entrusted with the responsibility of explaining to the Chief Executive Officer (CEO) that guided my development of the company's
The partners are directly responsible financially for the obligations of the business. Therefore, in case of loss or debts, the owners suffer the risks and losses since they have liability for the business. In terms of complexity and flexibility, the partnerships remain appropriate for the partners. The issue of raising finance is shared between the partners; however, they cannot get loans for the business independently. Therefore, they are not
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