Human Resources Simulation
After preparing some analyses to use in our annual report, I found it fascinating to compare our results to the industry average. One of the most interesting observations was made by the team leader, who pointed out that our quality index was very close to the industry average while our budget for quality was almost 50% of the industry average. This is interesting because it shows that the quality of output is not completely dependant on the amount of money that is spent on improving quality. This highlights the importance of other factors on quality, for instance wages, which is what my team focused on. My team increased wages more than the industry on average every quarter; while this didn’t prove to increase our quality index as much as the industry average, we were able to accomplish nearly the same results while improving other things like turnover and morale without spending as much money. If any other groups have not check out this strategy, they should consider it.