Statistical Study Of Turnover Rate Essay

1454 words - 6 pages

IntroductionThe VP of CCLM is meeting with the management group . . ."We actively use Workforce Management and Scheduling to keep data about our employees and ensure that our Quality of Service measures are met. We should all be pleased with the improvements in quality and performance we have made due to our Quality Monitoring Program. Service is more consistent and productivity has improved by several percent.But we seem to be missing something. There are still a high degree of errors, causing customer issues and call-backs. Also, our efficiency has improved, but I think there's more room for improvement.I have noticed that we seem to have an awful lot of new employees in our training courses. Does anyone have good data on the job retention rates?"At this point in the meeting, the operations senior manager looks up,"Our hourly employees' turnover is high. As far as we can tell, we lose a quarter of our new hires within the first few months and up to half by six months.We know that our turnover rate is 25%. We also know that a typical employee doesn't reach full productivity until they have worked at least six months. This means there is always a major portion of the employees who are not at full productivity."The primary objectives of this study are to explore the reasons behind hourly employee turnover and to explore variables that would assist in predicting employee retention in the company.We as a Human resources management believe that the operations management claim is too high, and the proportion turnover is less than 25% and it is still within the acceptable rate that reported by the "Bureau of Labor Statistics of the U.S. Department of Labor" of 17%.However, we decided to conduct a study to refute the operations management claim, and to compare the company's rate to the industry specific rates, thus determine if the company is experiencing abnormal turnover rate.Sampling DesignIn order to prepare for statistical testing we need to determine our sample size. To determine our sample size (n) we will use a 95% level of confidence (z=1.96) with an 18.2 estimate population standard deviation (s) (Bureau of Labor and Statistics) and based on a maximum allowable error of 2 employees (e).The following formula that expresses the interaction among these three factors and the sample size has been used in determination the sample size: n = (zs/E)"Substituting the values into formula: n = (1.96 * 18.15 /2)" = 316.4The computed value of 316.4 is rounded up to 317. A sample of 317 is required to meet our study specifications.Data CollectionA self-administered questionnaire was developed based on the literature review and several one-on-one interviews with senior managers and operations managers in the company. The questionnaire was given to every hourly employee of the company who have been employed within the last 6 months.The questions included items pertaining to the respondents' current job responsibilities, employment history, job search process,...

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