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Decreasing Costs and Improving Talent

Decreasing Costs and Improving Talent. Jody Glidden Tommy Jiang Tim Knell Hyesung Park Instructor: Dr. Zoya Kinstler Teaching Fellows: Basem Neseim and Stanford Chibanda. North America Region. Sales and Service. Leader. Quality. Medical Equipment. GLOCO. Networks. RapidTMS.

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Decreasing Costs and Improving Talent

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  1. Decreasing Costs and Improving Talent Jody Glidden Tommy Jiang Tim Knell Hyesung Park Instructor: Dr. Zoya Kinstler Teaching Fellows: Basem Neseim and Stanford Chibanda

  2. North America Region Sales and Service Leader Quality Medical Equipment GLOCO Networks RapidTMS Investment Information and Communication Technology Organization (ICT)

  3. About RapidTalent ConsultingCambridge, MA • A leading information technology consulting firm • Talent Management Systems • Affordable • Integrated • Scalable • Secure • Extensible • Efficient System Deployment

  4. RTC and ITIL

  5. Business Problems • Better align pay with performance • Provide better internal mobility • Provide more effective training and development Proposed Solution • Implementation of a Talent Management System • To help to reduce risk in critical roles • Improve employee productivity and retention • To uncover gaps in employee skills and training

  6. Business Requirements

  7. Business Processes PR- Performance review SR-Salary review HS -Hiring support SG-Skill gap analysis

  8. Business Benefit Justification Investment • More skilled workforce • Less employee turnover as a result of higher morale, upward mobility, and clear performance expectations • Lower cost of hiring • Annual cost of hiring: $3,735,000 (15% turnover at $4150/hire) • Cost of hiring with RapidTMS in place: $2,520,000 (12% turnover at $3500/hire) • Annual cost hiring savings: $1,215,000 Cost for RapidTMS including Customer support ($5.00 x 6,000 = $30k) Initial set up ($10k) + Customization of colors and logos ($20k) + Integration with HRIS ($170k)

  9. Success Criteria and Metrics • Turnover Improvement (15%  12% per year) • Employee Perception Survey (Pre-/Post-Surveys, A series of paired sample t-tests) • Employee Morale • Overall satisfaction • Supervisor relations, training, benefits, work environment, communication • Internal Job Replacement Rate Increase • Proportion of employees who were placed within time-limited period (5% growth). • Average Cost Per Hire Decrease (To minimize the total costs of job/ e.g. 15% reduce: $4150 $3500) • Training Hours: Effective Training vs. Unneeded Training Hours

  10. System Functions and Components

  11. RapidTMS Implementation Architecture

  12. Module Diagram

  13. Data Design and Management

  14. Data Flow

  15. System Deployment

  16. Project Timeline

  17. Internal Billboards • Awareness and Educational Broadcast Emails • Upgrades • Enhancements

  18. User Enablement

  19. Risks, Constraints and Limitations Course Suggestion: Commercially Available Course Libraries 2 3 X Provide Relevant Information 4 Point-to-Point Connection Failure Quick Restore Service HRIS 1 Human Factors

  20. Questions & Answers Thank you.

  21. Hiring Cost Breakdown Miscellaneous: Testing, reference checking, hiring unit staff time, administrative support, other minor expenses.

  22. Effective Training Hours vs. Unneeded Training Hours

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