Determine the return on investment

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Reference no: EM133106507

Case scenario:

You are the senior HR manager of a medium-sized organisation based in Brisbane, Australia. The organisation's management believes that the key to success lies with the superiority of its human resources (its people) and a strong focus on ethical practices. The organisation's strategic plan for the next 5 years reflects the company's belief that growth will come from hiring, training, and retaining the best people, and that the strategic and competitive advantage will come from the unique skill sets of employees that cannot be easily duplicated by competitors. Currently, the organisation is lacking strong training and retention strategies and their policies and procedure are not clear. This then leads to hiring individuals with incompatible skill sets. Given this scenario, a gap exists between where the organisation intends to be and where they currently are in terms of their training and retention strategies.

To support the strategic direction of the company, you have been asked by the CEO to evaluate and identify how recruitment and retention strategies within the company could be improved to better support the organisation's strategic and operational plans. Your aim is to create the recruitment, training, and retention strategies. In addition, you need to develop clear HR policies and procedures that can be followed.

You must ensure that your decisions and findings are based on analysis and alignment with the organisation's strategic direction (i.e., analysing its strategic and operational plans to determine its direction, goals, and objectives) and close communication with relevant managers and senior personnel in key positions throughout the company. You then need to decide what changes or modifications you wish to make to the delivery of human resources services within the company, and ensure this is within legislative, organisational, and business ethics frameworks. 

Finally, you will also need to consider ethical and legal implications and requirements of your service.

Question  

1. Determine the Return on Investment (ROI) for the delivery of your HR service. Please include a simple Cost/Benefit analysis to show if expected ROI is acceptable.

Reference no: EM133106507

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