HR Strategies and Budget Estimates

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 The Company we are using is Intel

When completing the "Internal and External Analysis" assignment earlier in the course project you were tasked with creating three strategic goals for your chosen company. From this assignment forward, you will be choosing one of those goals and carrying it through the strategic management process. Feel free to rewrite and improve the goal, but make your choice wisely. It will impact many of the upcoming project assignments. This assignment will require you to develop a staffing plan to attract, develop, and retain good employees to work on your chosen goal. It's very important that you're linking all of your choices to how it will help you accomplish that goal. Everything should be custom fit to that goal and that will be a big portion of the grading. For your staffing assignment, you'll need to write a detail breakdown of your HR staffing strategies that's at least two pages in length and addresses the following: 

Goal Choice

  • Clearly      state which of your three goals from your previous course project      assignment that you wish to accomplish.

Attract

  • What      are three traits that you believe employees must have in order to help you      accomplish your chosen goal? Explain your choices.
  • In      detail, identify two strategies that you will use to attract qualified      employees to hire.
    • How       do these strategies fit with your chosen business and chosen goal?
    • How       will your methods of attracting staff cater to a diverse work force? 
    • What       benefits will your goal in particular gain from having a diverse team       working together?

Develop

  • Will      you train your employees online or face to face?
    • How       does this choice fit with your chosen business and chosen goal?
  • What      are two areas that training for new employees should cover? Why did you      make these choices?
  • What      are two areas that training for existing employees should cover? Why did      you make these choices?
  • How      will you design your training to ensure that employees effectively      collaborate and work as a team, while valuing diversity? 

Retain

  • In      detail, identify two retention strategies that you'll use to keep high      performing employees.
    • What       advantages and disadvantages does each of these strategies have?
    • What       aspects of these strategies address the importance of retaining a diverse       team? 

Now that you've selected the goal you want to accomplish in your strategic management plan, it's time to start budgeting out the costs that will be involved with its implementation. You need to create an operating budget that takes into account the strategies and choices you've already made in previous sections of the course project.  It's important that you carefully consider exactly what you'll have to spend money on in order to successfully complete your goal. The numbers will be very general estimates, but you'll need to show the ability to accurately identify the major costs. The categories and subcategories for the budget should cover most if not all of the new expenses that will be present. This assignment should be at least two pages in length and complete the following:

Goal Choice

  • Clearly      identify your chosen goal in an introductory paragraph.

Operating Budget

  • Create      an operating budget for your goal.
    • The       budget should include common categories and subcategories such as general       operations, HR, marketing, miscellaneous expenses, etc.
    • Include       all major expenses required for the goal. Common expenses include       salaries, marketing channels, and inventory.
    • Connect       the costs/categories that you're considering to your already created marketing,       management, and HR strategies discussed in earlier portions of the       project.

Capital Budget

  • Identify      two long-term assets from the capital budget that will play a role in the      completion of your goal. These can be new purchases or existing assets. 
    • Briefly       explain the impact that each will have.
  • Posted: 7 days ago
  • Due: 
  • Budget: $15
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