Human Resource Management Assignment: 3 Assignment Purpose: Business Report Due Date: 11th May, 2017 Word Count: 2500 (+/- 10%) Task: In constructing a Business Case for an HRM initiative, discuss the importance of cost-benefit analysis, Return on Investment (ROI) and short/long term evaluation. You may use examples from your own experience. Business Case Format Assignment cover sheet Title page (optional) Executive Summary Table of Contents 1. HRM Initiative 2. Cost-Benefit Analysis 3. Return on Investment (ROI) 4. Evaluation 5. Business Case Summary 6. Critical Reflective Analysis References Appendices (maximum three) --------------------------------------------------------------- Note: The Business Case format follows the guidelines provided in the PPT for Topic 8 but for the purposes of Assignment 3 a Critical Reflective Analysis is included which will summarise what you have learnt about a Business Case. Executive Summary  The Executive Summary should be written last, when the assignment is completed and should be less than one page.  Clear and Brief overview of the key points covered in the Assignment.  No references are required. Table of Contents • Should be included in a new page after the Executive Summary. • The Table of Contents below is a generic suggestion only HRM Initiative Brief outline of the HRM initiative that you have chosen for your Business Case analysis Examples of initiatives might be: A major manager development program Outsourcing specialist selection processes Development of a Human Resource Information System Establishing a supervisor mentoring program etc. Building a Business Case Before proceeding further, ask yourself these questions What is a Business Case? Is it purely financial? Steps towards building a Business Case Key parameters for a Business Case considering human capital investment: Cost-benefit analysis, Return on Investment (ROI), Evaluation (to be explored in more detail in the next sections of the assignment) How does Human Capital investment fit within the financial consideration? Cost-Benefit Analysis Cost-benefit analysis involves considering the positive outcomes (or benefits) in comparison to the costs. Supporting analysis should be provided in terms of a cost-benefit statement  The Investment – a summary of the investment required by the proposal  The Savings/Productivity/Profit – a summary of the savings or profits generated by the proposal Notes: (1) you will need to use your experience or imagination here. (2) provide a reference(s) for cost-benefit analysis processes. Return on Investment (ROI) For this assignment we suggest that you estimate a Return on Investment of X% over one year. You will NOT need to do detailed calculations. However, for those with the necessary expertise a well developed ROI proposal will be welcomed. Note: (1) provide a reference(s) to support your points about the ROI. Evaluation Your evaluation plan is a very important part of your Business Case. You will need to provide an evaluation process, including both short-term and long-term evaluation criteria. Example of an Evaluation Plan for monthly workshops for six months: monthly workshop evaluation. At the end of the program an evaluation of program impact (e.g. improved productivity, improved customer satisfaction, reduced absenteeism, etc.) Remember that evaluating HR initiatives, such as talent acquisition, supervisor/manager development etc. usually is a longer term process. Note: (1) provide a reference(s) to support your points about Evaluation. Business Case Summarise the outcomes of your Business Case Analysis and your conclusions/recommendations about the chosen HRM initiative. Remember that you do not need to provide detailed, number-based working of the case. But you should indicate the grounds on which the initiative should proceed. Critical Reflective Analysis  The reflection is written in first person language  The Critical Reflective Analysis will summarise what you have learnt through writing about a Business Case, including the puzzles you have confronted and the insights you have developed. Critical Reflective Analysis applies both at the task level and at the personal development level. You need to comment on both levels.  The questions below will may help you to focus your reflection:  What difficulties did you face in writing about a Business Case?  How did you solve the difficulties?  What major lessons did you learn about the process? References are not required References  List all references included in the body of the assignment. Your “Bibliography” (all the stuff you have read) should not be included in an academic assignment. All references included in the Reference List MUST be used in the body of the assignment and you will be assessed on your ability to use the references to support your discussion/argument. In academic assignments, it is better to use references from academic journals. You can use any of the articles available in this unit (eReadings, PPTs). The Study Guide and the textbook may be quoted but will not count in the list of references. Planning your assignment • Roughly outline the issues addressed in the tasks. This will help you to decide which reading you need to do. • Discuss your issues with your lecturer, other students, friends and with the librarian/academic skills development. • Analyse all the issues that you have identified: think about possible solutions to the problems, drawing on books/scholarly publications. Important points (1) • Double space; page numbers • Font size 12 - Times New Roman or Arial • Spell check • Referencing: Harvard referencing style (Southern Cross School of Business and Tourism) • Word count: 2,500 words +/- 10% not including tables or references – Please include the word count in the cover page. • Assignments will be submitted using Turnitin • Upload your assignment as “.doc” (or Mac equivalent) not PDF Important Points (2) • In academic assignments (e.g. essays, reports) you are not required to do a literature review, but to carefully select relevant references to support your argument(s). Note that, however, when we write a paper for a scholarly journal or when we write a chapter for a thesis we do need to do a literature review to support our theoretical arguments. In doing this, we use a number of references together that emphasise the same issue - e.g. Effective training has a positive impact on individual performance (Author A 2009; Author B 2010; Author C 2001). You should not do this. That is, do not tack a large number of references on the end of a sentence or paragraph. Remember: the purpose of an academic assignment is different from the purpose of a scholarly paper or thesis. Important Points (3) In most academic assignments you are expected to use a formal writing style and write in the third person. Avoid using dot points/bullets. See below a note from Monash University: • ‘Bullets free the writer from having to indicate relationships, order, sequence, and all those other methods we use to expand our ideas in the development of an argument. We thus restrict ourselves when we use bullets…If you are constantly writing in point form, you are not expanding, explaining, making complex links, or indicating relationships as you can in ordinary prose.’ Useful Resources • SCU Library resources online • Assignment Navigator: This site provides advice, resources and strategies to help you successfully complete your assignments http://www.scu.edu.au/assignment-navigator/