(Solution) 1Application Project 3 MGMT 431, Spring 2017 Instructor: Miller Reducing Turnover Costs: The Financial Impact Of HR Practices Due Date: Friday, April... | Snapessays.com


(Solution) 1Application Project 3 MGMT 431, Spring 2017 Instructor: Miller Reducing Turnover Costs: The Financial Impact of HR Practices Due date: Friday, April...


1.       Read through the background information and tables.2.       Complete the required calculations in the Worksheet and in  Exhibit 1.  Be sure to include both your completed Worksheet and Exhibit 1 in your final report.3.       Respond to the following questions.a.         Are the benefits of reduced turnover sufficient to justify the $680,000 in increased costs associated with the expansion of the HR department at IHS?  Support your answer.b.         In addition to improved employee retention, what are some other potential economic benefits to IHS of its HR department?  What calculations would you do to demonstrate such benefits?1

 

Application Project 3

 

MGMT 431, Spring

 

2017

 

Instructor: Dr. M. Miller

 

Reducing Turnover Costs: The Financial Impact of HR Practices

 

Due date:

 

Friday, April 8

 

Instructions

 

1.

 

Read through the background information and tables.

 

2.

 

Complete the required calculations in the Worksheet and in

 

Exhibit 1.

 

Be sure to

 

include both your completed Worksheet and Exhibit 1 in your final report.

 

3.

 

Respond to the following questions.

 

a.

 

Are the benefits of reduced turnover sufficient to justify the $680,000 in

 

increased costs associated with the expansion of the HR department at

 

IHS?

 

Support your answer.

 

b.

 

In addition to improved employee retention, what are some other potential

 

economic benefits to IHS of its HR department?

 

What calculations would

 

you do to demonstrate such benefits?

 

Background

 

The 1990s brought significant changes and restructuring to the health care industry,

 

including mergers, consolidations and downsizing.

 

Managed-care organizations and

 

corporate employers demanded (and continue to demand) more cost-effective, high-

 

quality services.

 

In response to these pressures, integrated health care delivery

 

systems developed which combined hospital units, physician practices, outpatient and

 

long-term care facilities, and insurance.

 

Integrated delivery systems strive to provide

 

seamless care through internal referrals, a common record system, and common

 

policies and procedures.

 

However, these systems have experienced problems such as

 

differences in values and incentives across organizational units, lack of management

 

expertise in some of the units acquired, and difficulty achieving clinical and managerial

 

integration of the different units.

 

This exercise focuses on an integrated health care delivery system (we’ll call it IHS)

 

comprised of a public hospital and several care delivery units.

 

Although IHS is the

 

dominant health care provider in its region, it remains under pressure from employers

 

and managed-care organizations to (1) reduce costs even further, and (2) provide

 

evidence of its clinical quality and cost-effectiveness.

 

In such an environment, costs in

 

all organizational units (including the HR department) are receiving closer scrutiny from

 

the IHS board of directors.

 

Four years ago, the CEO and board of directors became aware that HR policies and

 

practices varied across the organizational units in IHS, and that the sophistication of the

 


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