HRM617 - Training and Development

Training and Development (HRM617) Fall, 2019 Assignment No.1 Due Date: 27 January, 2020 Total Marks: 10 Topic: Training Methods NOTE: Assignments after due date will not be accepted LEARNING OUTCOMES After completing this assignment a student may  Understand the Total cost of training.  Understand the Return on investment of Training. Case A 150 employee ABC Limited Company is facing a high turnover rate. A survey of employees had revealed that the reason for most who left was dissatisfaction with the level of training. It is calculated that on average 25 employees leave ABC limited every year. The cost to hire and train a new employee was Rs. 500,000. To address this issue company has introduced a new training program, which costs Rs. 1,000,000 as instructor cost, Rs. 1,000,000 as material cost, Rs. 3,000,000 as class room and other costs. Average wage of employees is Rs. 300 per hour per employee. Questions: If the newly introduced program is for 80 hours per year per employee: Identify the Total cost of Turnover. (2 Marks) Identify the Total cost of Training. (4 Marks) If after 1 year the turnover drops to 10 employees, what will be the financial benefit of training program? (4 Marks) IMPORTANT: 24 hours extra / grace period after the due date are usually available to overcome uploading difficulties. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience. IMPORTANT INSTRUCTIONS  Students are advised to study the whole text carefully.  Try not to include any irrelevant material in the solution  Try to come up with precise and original answers.  Any act of plagiarism like copy paste from internet will result in ZERO marks.  Assignments reaching after the due date would not be considered. OTHER IMPORTANT INSTRUCTIONS: DEADLINE:  Make sure to upload the solution file before the due date on VULMS.  Any submission made via email after the due date will not be accepted. FORMATTING GUIDELINES:  Use the font style “Times New Roman” or “Arial” and font size “12”.  It is advised to compose your document in MS-Word format.  You may also compose your assignment in Open Office format. Use black and blue font colors only REFERENCING GuIDELINES:  Use APA style for referencing and citation. For guidance search “APA reference style” in Google and read various website containing information for better understanding or visit http://linguistics.byu.edu/faculty/henrichsenl/apa/APA01.html RULES FOR MARKING Please note that your assignment will not be graded or graded as Zero (0), if:  It is submitted after the due date.  The file you uploaded does not open or is corrupt.  It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc.  It is cheated or copied from other students, internet, books, journals etc. Good Luck LIKE VU ON FACEBOOK