Premium Essay

Training and Costing Proposal

In: Business and Management

Submitted By thisisalmostdone
Words 1358
Pages 6
|Training and Costing Proposal |
| |
|Course: HRMT 160 |
|Section: 1500 |
|Dr. Lyle Benson |
|October 1, 2010 |

NCO Financial Services is worldwide outsourcing company. They operate in North America as well as In Mexico and Australia. NCO’s motto is “Your career is our investment…imagine your future”. For the purpose of this report we will be focusing on the Edmonton branch.

The Issue

In the last six months their attrition rate has skyrocketed. In February 2010 the rate was 4.23%, March 4.97%, April 6.12%, May 7.93%, June 8.17%, July 8.45%, August 10.67%. High attrition leads to higher compensation costs for the company. If the organization hires someone, they have not only spent money on training, but also on the cost of recruiting as well. If an employee leaves abruptly, then the company has not had time to recoup the money spent on the training and recruiting. The process will have to start over again and if this happens to often then the organization may put a freeze on dollars given for recruitment. Poor retention not only affects the company’s bottom line but also moral of the current employees. The burden of picking up the slack falls on current employees. This can cause extra strain on the relationship the employee has with the organization. This is a fast paced industry and can be very stressful at times. It is believed that the retention problems NCO faces are due to the stress the employees faced every day while collecting money from delinquent accounts and dealing with angry debtors. It is believed that people could not handle the stress or were frightened by the work so they would quit.…...

Similar Documents

Premium Essay

Costing

...criteria the evidence must show that the student is able to: | | Task no. | | Evidence | 1 | explain the importance of costs in the pricing strategy of an organisation changes | | 1.1 | | 9 | 1 | design a costing system for use within an organisation resource | | 1.2 | | 17 | 1 | propose improvements to the costing and pricing systems used by an organisation | | 1.3 | | 21& 24 | 2 | apply forecasting techniques to make cost and revenue decisions in an organisation | | 2.1 | | | 2 | assess the sources of funds available to an organisation for a specific project | | 2.2 | | | 2 | select appropriate budgetary targets for an organisation | | 3.1 | | | 3 | participate in the creation of a master budget for an organisation | | 3.2 | | | 3 | compare actual expenditure and income to the master budget of an organisation | | 3.3 | | | 3 | evaluate budgetary monitoring processes in an organisation | | 3.4 | | | 4 | Absorption costing and Activity Based costing based on the results explain the importance of costs in the pricing strategy of Quality manufacturers | | 4.1 | | | 4 | design a costing system for use within Quality manufacturers for better pricing. | | 4.2 | | | 4 | propose improvements to the costing and pricing systems used by Quality manufacturers | | 4.3 | | | 5 | apply financial appraisal methods to analyse competing investment projects in the public and private sector | | 5.1 | | | 5 | make a......

Words: 3051 - Pages: 13

Premium Essay

Costing

...George Staubus' Activity Costing and Input-Output Accounting.[4] The concepts of ABC were developed in the manufacturing sector of the United States during the 1970s and 1980s. During this time, the Consortium for Advanced Management-International, now known simply as CAM-I, provided a formative role for studying and formalizing the principles that have become more formally known as Activity-Based Costing.[5] Robin Cooper and Robert S. Kaplan, proponents of the Balanced Scorecard, brought notice to these concepts in a number of articles published in Harvard Business Review beginning in 1988. Cooper and Kaplan described ABC as an approach to solve the problems of traditional cost management systems. These traditional costing systems are often unable to determine accurately the actual costs of production and of the costs of related services. Consequently managers were making decisions based on inaccurate data especially where there are multiple products. Instead of using broad arbitrary percentages to allocate costs, ABC seeks to identify cause and effect relationships to objectively assign costs. Once costs of the activities have been identified, the cost of each activity is attributed to each product to the extent that the product uses the activity. In this way ABC often identifies areas of high overhead costs per unit and so directs attention to finding ways to reduce the costs or to charge more for costly products. Activity-based costing was first clearly......

Words: 1980 - Pages: 8

Premium Essay

Proposal on Farmers-Scientist Training Program

...A PROPOSAL ON FARMERS-SCIENTIST TRAINING PROGRAM SUMMARY The LGU in its aim to attain sustainable agriculture that would in the end change the lives of the local farmers and provide food and economic security to the local people intensify agricultural programs by providing effective extension services to the local farming communities and equip them with advance technical and scientific skills via Municipal Agriculture Office under its Farmers-Scientist Training Program. The FSTP-RDE training program in Duero was launched last November 15, 2007 and is implemented in 3 phases. Phase I started on November 30, 2006 and was culminated on May 22 of 2007. It was basically a technology transfer course conducted in a lecture cum practicum method. Intensive technical inputs were provided by resource persons from the Office of the Provincial Agriculturist, DA – RFU VII, ATI SCUs, UPLB and other institutions. Training was conducted on the site provided by the Municipal Government with the concurrence of the Program Management and Technical Committee. Phase I was able to produced 43 farmer-scientists graduates. Phase II was just a replication of phase I activities but was conducted by the farmer-scientist themselves in their respective Barangays or place of residence. Scientists/experts will still provide the farmer-scientists with the needed technical assistance whenever necessary. In phase III the farmer-scientist who were able......

Words: 1524 - Pages: 7

Premium Essay

Centralized Training Workshop Proposal

...Centralized Training Workshop Proposal Centralized Training Workshop Proposal The Centralized Training Workshop is being formed to train all managers on the new system and compliance policies being introduced across the organization. To ensure organization resources and the manager’s time is not wasted several issues need to be addressed and resolved. These issues include though not limited to organization and infrastructure problems and social concerns within the organization and have been addressed and resolved to facilitate training. All training will be customized to the manager’s background, training objectives and system requirements. CTW (Centralized Training Workshop) is a combined effort of HR and IT department managers to streamline the new organization’s system and policies being implemented company wide. The proposed workshop will be conducted at the organization headquarters, a suitable site for all satellite location managers. Workshop sessions will be held in a three day period, each training day will be for a five hour period. Stakeholders Stakeholders concerned with the workshop include committee members and financial department of the main branch, along with advertising and all satellite managers. Indirectly involved are all uses of our services and products. In addition to any individuals invested in the organization. Objective The main purpose for the proposed workshop is proper training and feedback from the training experience. By complete......

Words: 422 - Pages: 2

Premium Essay

Assignment 2: Human Resource Management Training Proposal

...“Human Resource Management Training Proposal” Week 8 Assignment By: Beira Romero HSA 320 Professor: Teresa Cole 08/25/2013 Overview of the Process and Steps Human resources planning assess the manpower requirement for future period of time. It attempts to provide sufficient manpower required to perform organizational activities. HR planning is a continuous process which starts with identification of HR objectives, move through analysis of manpower resources and ends at appraisal of HR planning. Recruitment’s provide opportunities to departments such as aligning staff skill sets to initiatives and goals and planning for departmental and individual growth. Although there is work involved in the hiring process, proper planning and evaluation of the need will lead to hiring the right person for the role and team. A position description also referred to as a job description is the core of a successful recruitment process. From the job description, interview questions, interview evaluations and reference checks questions are developed. Basic position and pay information will need to be determined to assist with the development of the job description and job classification. This information will be different for each position being recruited Describes the department’s functions, the unit’s functions, and/or the organizational unit’s functions. The statement should summarize the position’s essential functions and its role in relation to supporting, administering, or......

Words: 2100 - Pages: 9

Premium Essay

Human Resource Management Training Proposal

...attract suitable employees legally and fairly. Human resources will collaborate with the manager to select an appropriate candidate. Once the employee is recruited then it is important to retain that employee by creating an environment that is conducive to talented employees. A second function is training and developing employees. This would mean giving new employees extensive orientation training, in my organization it consist of two days straight, and then another day after 21 days of employment. HR also provides leadership training for newly hired managers to give them the tools to deal with leadership issues within their department. HR also develops career programs to help to help employees expand their career. These programs are usually long term and geared towards employees that the organization feels are promotion worthy. I currently am taking advantage of the tuition reimbursement program at my organization, which reimburses me for my classes as long as I maintain a certain grade. The next function of HRM is to provide a safe working environment for employees under the federal Occupational and Safety and Health Administration (OSHA). HR is responsible for providing training to the employees about the hazards and dangers of the workplace. The Joint Commission is also responsible for making sure that HR is compliant in making sure that health and safety standards for patients and employees are up to date. In addition, to keeping the workplace safe, HR must......

Words: 1467 - Pages: 6

Premium Essay

Human Resource Management Training Proposal

...Human Resource Management Training Proposal Connie Hazley Professor Renita Ellis Health Care Human Resource Management HAS – 320 February 24, 2014 Human Resource Management Training Proposal Human Resource (HR) planning is an important factor of strategic HR management. Human resource management is the process of determining the needs of the company. According to Harris (2005) the strategic plan of the organization is directly linked to HR management. In order for the company to run smoothly human resource management has the responsibility of making sure there is a balance of the cost of operation of the plant and workforce and establishment of industrial relations in the organization. According to Johnston (1996) the planning process has four steps, depending on the organization and the type of plan the company will implement; the first step of the planning process is to consider the existing HR capabilities of the organization. There should be a clear understanding of the skills, knowledge and abilities of current employees. The second step is forecasting, which involves setting attainable goals and getting the right people for the job with the rights skills for the required number of positions. The third step is gap analysis, which basically determines the organization current position to where the company would like to be in the future. The fourth step is developing HR strategies to support organizational strategies such as training, select and recruitment.......

Words: 1979 - Pages: 8

Premium Essay

Target Costing

...TABLE OF CONTENTS ACKNOWLEDGEMENT 2 INTRODUCTION 3 CONTENT 4 1.0 DEFINITION OF TARGET COSTING 4 2.0 THE PURPOSE OF TARGET COSTING 4 3.0 CHARACTERISTIC OF TARGET COSTING 4 4.0 PRIMARY PROCESS OF TARGET COSTING 5 5.0 LIFE CYCLE COSTING 6 6.0 COST REDUCTION EFFORT 6 7.0 ADVANTAGES OF TARGET COSTING 7 CONCLUSION 9 APPLICATION TO INDUSTRY 9 REFERENCES 10 ACKNOWLEDGEMENT In performing our assignment, we had to take the help and guideline of some respected person, who deserve our greatest gratitude. In the completion of this assignment give us much pleasure. We would to gratitude Dr. Rosiatimah Mohd Isafor giving a good guideline for the assignment throughout numerous consultations. We would also like to expend our deepest gratitude to all those who have directly or indirectly guided us in writing this assignment. Many people, especially our classmates and team members itself, have made valuable comment suggestions on this proposal which gave us an inspiration to improve our assignment. We thank all the people for their help directly and indirectly to complete our assignment. INTRODUCTION Organization might have a number of objectives such as customer satisfaction with the good quality of product that company produced, achieving a high level of market penetration, providing a good work environment to their employees and being able to achieve high revenue. Therefore, there is a number of strategic management accounting techniques that can be...

Words: 2712 - Pages: 11

Premium Essay

Costing

...Costing is used in business accounting strategies as a way of determining the cost of manufacturing a product in relation to the revenue generated by that product. Costing systems determine the overhead of production and then allocate those overhead costs to a business’ products. There are two common methods for allocating these indirect costs to products. Both of these methods assess overhead costs and then attach these costs to products based on certain cost drivers. A cost driver is any component that costs money or any factor that is related to a cost occurring, such as the volume produced or the number of labour hours. The first of these methods is activity-based costing, which is sometimes referred to as “ABC.” Activity-based costing determines all activities associated with production, assigns a cost to those activities and then determines the cost of the product. The other method is traditional costing, which assigns costs to products based on an average overhead rate. This method pools all indirect costs in production and applies those costs equally across the board using one appropriate cost driver, such as machine hours. Comparison between ABC and traditional costing Activity-based costing is more accurate because it takes important factors into account before assigning a cost to a product. However, for this same reason, it is a bit more complicated and time-consuming. It’s also more thorough and considers non manufacturing expenses as well, such as......

Words: 664 - Pages: 3

Premium Essay

Training Proposal

...employees. Training of the employees is also very important for growth of the organization and for the development and for the success too. The attainment of knowledge, skills and the competencies means the training. All these the person gets by teaching vocationally or from practical knowledge and skills. All these are very useful for the training process. Training improves the capability, capacity, productivity, knowledge and the performance of the person. Training improves the person only. It never deteriorates the person’s ability in fact smoothes the personality of the person (Sharlyn Lauby, 2011). Training makes the man perfect. It makes the man capable of doing some work. In the company the training of the employees is very much important. Though the training of employees takes place after the orientation process. Training is needed for the employees because it enhances the capability of the employees. For training company needs expert to train the employees according to their needs. The training upgrades and updates the skills of the employees. It is never ending process. It is continuous also because training needs as the company develops. Training is fruitful to both employers and employees. The employees’ value will increase if he is efficient and the productive this can be possible if he is trained properly. The training is given to employees in the following grounds if the training is needed to reach the goals of the organization. It means if training is needed......

Words: 2034 - Pages: 9

Premium Essay

Costing

...The first factor is costing. Costing concerns setting a price for a product or service so that a profit is made and arriving at a correct valuation for stock. (Jones, 2012). The reason why cost are used in many different ways is to fulfil the need of management according to their department. For example, for the purpose of accounting for costs in manufacturing companies, cost are classified into two divisions which are manufacturing costs and non-manufacturing cost. Manufacturing cost consist of direct materials, direct labour and manufacturing overhead while non-manufacturing costs consist of selling costs and administrative cost. Another example is for the purpose of preparing financial statements, costs are classified into product costs and period costs. Tools and techniques that used to drive costing factor are absorption costing and activity based costing. Absorption costing is the method under which all manufacturing costs, both variable and fixed, are treated as product costs with non-manufacturing costs, for example, selling and administrative expenses, being treated as period costs. Absorption costing treats all manufacturing cost as product costs, regardless of whether they are variable or fixed. The cost of a unit of product under the absorption costing method consists of direct materials, direct labor, and both variable and fixed manufacturing overhead. Thus, absorption costing allocates a portion of fixed manufacturing overhead cost to each unit......

Words: 259 - Pages: 2

Premium Essay

Training Proposal

...[pic] Training Proposal Fundamental Communication Skills Training for Managers Prepared For: Institute for Children, Poverty, and Homelessness 44 Cooper Square New York, NY 10003 Provided By: Personnel Fusion Consultants Table of Contents ICPH Background: The Institute for Children, Poverty and Homelessness is an independent nonprofit organization that was founded in New York City in 1990. The organization was formed after the late 1980’s when family homelessness rates was increasing in the United States. (ICPH) is a research and development organization that studies the motives of family homelessness and as well, develops data to inform and help enhance public policy for family homelessness. During their past 25 years of service, the Institute of Children, Poverty and Homelessness has been committed to advance statistics as they believe this data is what interests the public and political provision to help with homeless families. Their mission is to study the impact of poverty on family and child well-being and to generate research that will enhance public policies and programs affecting poor and homeless children and their families. ICPH examines the condition of extreme poverty in the United States and its effect on educational attainment, housing,......

Words: 3670 - Pages: 15

Premium Essay

Costing

...C H A P T E R F I V E INTRODUCTION TO COST MANAGEMENT Activity-Based Costing and Management After studying this chapter, you should be able to . . . 1. Explain the strategic role of activity-based costing 2. Describe activity-based costing (ABC), the steps in developing an ABC system, and the benefits and limitations of an ABC system 3. Determine product costs under both the volume-based method and the activity-based method and contrast the two 4. Explain activity-based management (ABM) 5. Describe how ABC/M is used in manufacturing companies, service companies, and governmental organizations 6. Use an activity-based approach to analyze customer profitability 7. Identify key factors for successful ABC/M implementation PART I Beware of little expenses. A small leak will sink a great ship. Benjamin Franklin This chapter has a lot to do with implementing the spirit of Benjamin Franklin’s observation—in cost management terms—that it really does matter how accurately you calculate a cost. Why? Having accurate costs is important for a variety of reasons: a company might find that it has a difficult time determining which of its products is most profitable. Alternatively, it finds its sales increasing but profits declining and cannot understand why. Perhaps the company keeps losing competitive bids for products and services and does not understand why. In many cases, accurate cost information is the answer to these questions. Accurate cost information provides a......

Words: 26467 - Pages: 106

Premium Essay

Proposal for Training of Microsoft® Office

...Request For Proposal FOR PURCHASE OF SOFTWARE TRAINING Of Microsoft® Office® Table of Contents I. General Overview 3 A. Purpose 3 B. Subject 3 II. Instructions to Vendor 3 A. Schedule for Evaluation Process 3 B. Proposal Format 3 C. Proposal Evaluation Criteria 4 D. How to Submit a Proposal and Information for respondents 4 I. General Overview Purpose The reason for this Proposal is to obtain training services for all of our employees. We are looking for training on Microsoft Office programs. Subject The training will need to be done during the employees work schedule and we will set aside time for this. The training needs to be done in no more than two classes or sessions. The training company is expected to give the employees all the training materials that will be need for the training program. We expect that all information will be up to date with the newest and most recent version of Office and its other programs. The company will use certified instructors and all training will need to be done in easy to follow steps. Testing is going to be needed after the course is over and all employees must be awarded a certificate and be able to pass the course given by the company. The reason is to be able to make sure everyone that was in the training program has received the proper instruction from the company’s course they taught. These certificates will be given and signed by the training......

Words: 473 - Pages: 2

Premium Essay

Data Costing

...information on the cases listed below, visit: www.hbsp.harvard.edu/educators Case Title Institution, HBSP Product Number, Length, Teaching Note Geographical and Industry Setting, Company Size, Time Frame Abstract, Key Subjects PART ONE: COST ACCOUNTING FUNDAMENTALS Chapter 1: The Accountant’s Role in the Organization Chapter 2: An Introduction to Cost Terms and Purposes Carver HBSP United States, Consulting Co. #199006 consulting, 10,000 7p employees, 1994 Daniel Dobbins Distillery, Inc. HBSP #189065 7p TN #189172 Tennessee, liquor distillery, 1988 The managing partner of a relatively new consulting firm is concerned because training costs at the firm's new training center are higher than expected. Analysis of actual costs compared to those expected is required. In addition, he is considering capitalizing some training costs for later amortization. A management control system for the center is also a priority. A distiller increases whiskey production and income declines because of accounting methods in use. Questions are raised regarding the treatment of expenditures, which can be classified as production, inventory, or period costs. The necessary aging process raises added questions about prior period restatements and needed financing. Chapter 3: Cost-Volume-Profit Analysis Hollydazzle.com HBSP New England, #100066 Web retailing, 5p 1999 Describes the underlying economics of a start-up Internet retailing company. Highlights the fact that costs in......

Words: 6264 - Pages: 26