Reference no: EM132208205
Scenario: An insurance company has hired you to do an evaluation of its training program. Members of management are particularly concerned about the new-hire training for new insurance agents.
This training teaches the agents about all of the different policies offered by the company for life, auto, home, and health insurance. The current situation is that the company is paying each agent taking the course $300 a week while in training. The training course lasts for 8 weeks. This costs the company $2,400 in salary per agent during the training.
The instructor is paid $5,000 for the 8 weeks. Other overhead expenses include site rental, supplies, and equipment, and they cost approximately $3,000.
At the end of the training, the agents are assigned a trained agent to work with for 2 weeks (new agent pay is still $300 a week), and then they are assigned a territory. 45% of the agents trained quit before the end of the time with the trained agent. Another 20% quit or are fired within the first 3 months on the job.
The company needs to find out what needs to be done to improve its hiring and training practices so that it retains more of the agents hired.
Your assignment is to develop a proposal 4 pages (in APA-manuscript format) for data collection. Specifically, you will be required to clearly explain and justify the data-collection plan you would follow to do the training program evaluation.
Be sure to include the following:
The data you will collect
Construct a data collection tool with a Likert scale.
The data collection tool should use 5 survey statements.
The Likert scale should include 5 categories from "agree" to "disagree."
Classification of the data as quantitative or qualitative
Description of why the data are needed
Description of who you will collect the data from (sample) and what method you will use to determine the sample
Technology options that you might use to collect data and why the selected technology is appropriate
Be sure to use appropriate peer-reviewed sources (other than the textbook) to support and reinforce your choices. Because you have not yet collected data (your paper is just a proposed plan), do not make recommendations regarding the solution to the problem.
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What needs to be done to improve its hiring and training
: Members of management are particularly concerned about the new-hire training for new insurance agents.
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Construct a data collection tool with a likert scale
: Description of who you will collect the data from (sample) and what method you will use to determine the sample.
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Calculate the after-tax accumulated value you will receive
: Calculate the after-tax accumulated value you will receive after 40 years under the following three scenarios
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The null hypothesis and an alternative hypothesis
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How sales forecast impacts all other forecasts for the firm
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