Make at least three recommendations to reduce employee turnover based on your analysis. Provide a rationale for your recommendations based on an evaluation of the benefits, risks and financial implications of potential solutions.
Analysis and interpretation of data associated with a specific people issue. Here, the identified people issue is the need to reduce the level of employee turnover. You are asked to make three recommendations to reduce the turnover, which must be based on your analysis of the data.
For each recommendation, you need to provide a rationale (justify) based on an evaluation of:
• The benefits of the recommendation
• The risks of the recommendation
• Financial implications of the recommendation
Benefits (for example achievement of objectives, enhanced worker productivity, customer engagement, improved organisational culture, enhanced metrics and business awareness, increased capabilities, perception of fair policy and processes, legal compliance). Risks (for example legal, health and safety, financial, reputational, capability, impact on worker or customer engagement). Financial implications: direct costs (costs of implementing the solution) and indirect costs (for example loss of working time, need for skills upgrade in relation to the solution); costs in relation to the short and long term benefits (cost benefit analysis, return on investment); costs in relation to budget limitations and feasibility of solutions.
This is the final part of the assessment covering the theme of the people related issue. For this part, you are explaining the rationale behind the solution(s) you have chosen to resolve the issue/improve the situation. Remember, in AC 2.3, you identified the possible solutions to the issue using decision-making tools. Here, you are simply exploring the potential benefits and risks, including the financial implications of your proposed solution(s).
To demonstrate a full understanding of the implications of your proposed solution, you need to show you have considered the benefits and the risks plus the financial considerations.
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