Elaborate on two key learnings from the case related to training and development and its integration with the organization

Answer is required from a 100+ positive feedback member and within four hours.

 

 

I need ALL Question Answered (not a two sentence answer) NO PLAGARISM, must be original!, and this question:

 

 

Elaborate on two key learnings from the case related to training and development and its integration with the organization. Be sure to clearly state the two key learnings and defend them in well-organized, scholarly responses.

 

 

 

 

Case 8.2 Customer-Driven HR

 

 

 

 

 

 

 

Costs and Benefits: Assessing the Business

 

 

 

Case for Training

 

 

 

 

 

 

 

No matter what your business, to stay in business you have to

 

 

 

attract and retain customers. How do you do that? One way is

 

 

 

to deliver a quality product or service in a high-quality way. In

 

 

 

other words, it is a combination of what is offered and how it is

 

 

 

offered that determines if a buyer will become a loyal customer.

 

 

 

Training is one way to make sure that employees’ technical skills

 

 

 

and customer-service skills meet customer expectations.

 

 

 

When making a business decision, two basic elements are

 

 

 

typically considered: costs and benefits. In the case of training,

 

 

 

the issues are: (1) how much does the training reduce costs? and

 

 

 

(2) how much does the training increase revenue? If the training

 

 

 

sufficiently reduces costs and/or increases revenues, there is a

 

 

 

strong business case to conduct the training. Your ability to identify

 

 

 

the potential sources of revenue and costs and to estimate their

 

 

 

levels can be an important business skill. It can be the basis by

 

 

 

which you can successfully make the case for needed training for

 

 

 

your employees.

 

 

 

 

 

Critical Thinking Questions

 

 

 

 

 

1. As you have read, training can increase revenue. The revenue

 

 

 

could come from increased quality of the customer experience

 

 

 

due to the impact of training. Consider, as an example,

 

 

 

the table of customer survey responses before and after training

 

 

 

shown on the next page.

 

 

 

 

 

The numbers are percentages of customers in each

 

 

 

satisfaction category six months before and six months

 

 

 

after employees received their training. A key change

 

 

 

is a reduction in the “Very dissatisfied—will never

 

 

 

return” category of customers, which fell from 15 to

 

 

 

5 percent. What will this 10-percent change mean to

 

 

 

the bottom line?

 

 

 

 

 

Customer Satisfaction

 

 

 

Very Dissatisfied—

 

 

 

will never

 

 

 

return

 

 

 

Before

 

 

 

Training 15 15

 

 

 

15 80

 

 

 

70

 

 

 

After 5

 

 

 

Training

 

 

 

OK, but would

 

 

 

return

 

 

 

Satisfied—

 

 

 

would return

 

 

 

 

 

Assume that the average revenue generated per

 

 

 

month by a customer is $500.00. Also assume that you

 

 

 

have 500 customers. What is the increased revenue due to

 

 

 

the training for the past six months? What would be the

 

 

 

revenue generated if you had 1,000 customers?

 

 

 

 

 

2. Training can also impact the bottom line by reducing a number

 

 

 

of direct costs. For example, employee costs may be reduced

 

 

 

because fewer overtime hours will be needed because of

 

 

 

improved performance. Another cost reduction can be seen in

 

 

 

reduced returns, because training may reduce errors or damage

 

 

 

that can occur when the product or service is provided.

 

 

 

 

 

Make assumptions about the costs in each of these

 

 

 

categories and any other direct costs you can think of.

 

 

 

Also assume that you can expect a 10-percent reduction in

 

 

 

each of these categories. Generate the direct cost savings

 

 

 

estimate due to the training.

 

 

 

 

 

3. Training can also impact the bottom line by reducing indirect

 

 

 

costs. These are costs that may not be obvious, but that are still

 

 

 

important. For example, safety of work processes or equipment

 

 

 

can be improved due to training if workers handle materials

 

 

 

or equipment more safely. Employee turnover can also be re –

 

 

 

duced, because of improved job satisfaction due to the training.

 

 

 

 

 

Assume that training results in a 10-percent reduction

 

 

 

in your turnover rate. Also, assume that the cost of a turnover

 

 

 

is 1.5 times the departing employee’s salary. For a

 

 

 

given average employee salary of your choosing, estimate

 

 

 

the reduced costs due to the reduction in turnover.

 

 

 

 

 

4. Given your answers to the previous questions, estimate the

 

 

 

combined impact of direct and indirect savings generated by

 

 

 

training on the bottom line. Extrapolate this number over a

 

 

 

one- or two-year time period.