[Instructor Address]
[City, State, Postal Code]
[Client Name]
[Client Address]
[City, State, Postal Code]
Dear [Instructor Name]:
The enclosed document contains an analysis of the Coca-Cola corporation’s ability to reduce employee turnover by changing recruitment strategies. I am pleased to present the report that you requested for this purpose.
Although Coca-Cola is a large corporation and has no shortage of people willing to apply for work, the company has also found itself facing high turnover rates. High turnover rates, as you are certainly aware, can be problematic for companies that rely on employee knowledge and expertise—they can also be very expensive for a company if they persist over time.
Thank you for allowing me this chance to present you with a justification report regarding the importance of recruitment strategy changes for Coca-Cola. If there are any problems with this report or concerns about the report, please feel free to contact me at [insert contact details here].
Sincerely,
[Client Name]
Enclosure: Justification Report
Executive Summary
My justification report analyzes the viability of implementation of provision of Coca Cola's drinking beverages and its facilities. It examines the possible consideration of provision of canned beverages and its bottled vitamin water. The method of analysis will include but not limited to making inquiries from Coca Cola's distributing companies as well as research conducted over the internet to determine the safety standards, ingredients, and the minerals their beverages and effects on different employees based on their health restrictions.
The results of my research shows that the three examined options have their pros and cons independently with a range of delivery, cost, installations, employee acceptability and satisfaction ratings, safety and hygiene and convenience. Coca Cola have experienced a high demand rates of employee turnover. My report presents the need to find the most suitable solution. It presents problem scope, two alternatives, and the necessary evaluation of the alternatives.
The overarching goal of this paper is to provide potential solutions for the company in terms of retaining employees for a longer time. The current structure of the company does not allow for employees to become comfortable and instrumental to the company; adjustments must be made to the current structure to change the way Coca-Cola approaches hiring procedures.
Coca-Cola is a massive corporation that enjoys international recognition. It should be a dream for anyone to work for such a large and powerful organization; however, the company has been experiencing problems retaining employees. Employee turnover might not seem to be a significant problem for a company that has thousands waiting to join its ranks, but every company relies on the knowledge and experience of older employees to train other employees. Without this entrenched institutional knowledge, it is entirely possible that Coca-Cola will suffer some institutional chaos or disorganization as a result.
Problem Statement
Coca Cola's biggest problem in recent years has been a high employee turnover rate. The company has offered no real solutions to counter the problem of high turnover. Countless employee proposals have been presented to the management because the best alternative is a challenge for the leadership of the company for the past four years.
Terminology
Recruitment strategies—Management structures and guidelines that govern how the company chooses potential future employees.
Cost—The overall price that the company pays over time. This refers to both financial and intellectual metrics.
Report Overview
Coca-Cola has a number of important strengths that will make it easier for the company to develop new strategies: it has an abundance of capital to work with, and the company has worldwide name recognition. Many people would love to work for a company like Coca-Cola. The goal is to ensure that the company is able to conduct business appropriately and maintain employees for a longer period of time. In fact, employees are particularly important because they retain institutional knowledge—this institutional knowledge is then used to maximize creativity, innovation, and ultimately, profit.
Overview of Alternatives
There are a number of alternatives that Coca-Cola could implement to solve this problem. One of the benefits of being such a large organization is that the scope of any changes made can be significant, and the company has significant capital to use to solve any potential problem that might arise.
Alternative One: effective recruitment implementation of proper recruitment strategies which prevents absorption of unreliable and incompetent employees. This will be a short-term fix for the company, and does not promise long-term results. Analysis of this potential option will be conducted.
Alternative Two: Will heavily rely on employee compensation and the improvement of employee statistics. Also, making available with competitive benefits and wages for employees to be satisfied and feel comfortable. This alternative will be the preferred alternative for the company.
Criteria
There are a number of criteria that can be used to judge the feasibility of changes. They are as follows:
Cost. After analysis, the mid to long-term cost of changing policies within the organization should not outweigh the cost of high employee turnover. The cost of changing recruitment strategies will be less in both the short and long term.
Time to implement changes. Implementing changes within an organization takes significant time, but if they process is too long it is unlikely for changes to be absorbed into the organizational structure. Changing the compensation packages will be a short process, and changing recruitment strategies will be much longer.
Practicality- is this solution likely to solve the problem? It is unwise to spend money on a potential solution if it is unlikely to solve the problem in the long run. However, Coca-Cola does seem likely to be able to implement these changes in recruitment. Changes in compensation are unlikely to change the recruitment issue in the long run.
Research Methods
Before any recommendations are made for the overall success of the company, research must be completed. There are two basic types of data that must be accumulated for the success of this report: first, information on Coca-Cola must be collected. This information must pertain to the issue of high employee turnover, and the potential reasons why the company is facing such high rates of employee turnover when it is such a large company and there should be a lot of prestige working for such an entrenched institution.
The second part of the discussion for this topic will be research into the theoretical foundations of management and business. As companies grow larger, things change, and best practices must then be reassessed by management; it is likely that there are theoretical approaches to high employee turnover that have been yet to be implemented by the leadership within the organization. Understanding the current problems from a theoretical viewpoint will also help implement new changes and structures in the organization.
Evaluation of alternatives
The two alternatives available for this organization are to adopt new recruitment strategies, or to design a new compensation package for the current employees to try to maintain a higher level of retention. Designing new compensation packages will be quite an expensive prospect, but it might easily ensure that employees are retained at higher levels. However, recruitment changes might take longer to implement, but they will undoubtedly be less expensive for the organization in the long run.
Cost
Alternative A: Training can have serious up front costs associated with assessment and changes. It will take time to see changes, and there may be unexpected costs. However, it will be cheaper in the long term.
Alternative B: The cost for alternative B will be higher in both the short term and the long term because the company will likely continue to lose employees and will be spending more on compensation.
Time to Implement Changes
Alternative A: The time to implement organizational changes is quite long comparatively. The organization will have to take time to adapt.
Alternative B: The time to implement alternative B will be very short, because it pertains to changes for existing employees.
Practicality
Alternative A: This solution is more likely to solve the problem in the long term.
Alternative B: Alternative B is practical in the sense that it would be easy to implement, but impractical based on costs and failure to address the main problem.
Effectiveness
I strongly believe the first alternative would not require financial investment while the second alternative requires some financial investment. Moreover, the duration involved to implement the first alternative requires little time to be implemented while the second alternative would take a long period of time. However, the first alternative is easy to implement and the results may surface in a short period. While on the other hand, the second alternative will not be efficient as the time table involved takes a longer period before results are shown.
Findings and Analysis
According to my justification report, it is evident that the first alternative and the second alternative will both help to reduce high employee turnover rates. The first alternative will be affordable while the second alternative may not as shown. The first alternative requires a shorter time table to implement while the second alternative may not. The first alternative will be efficient execute while the second alternative may not. It may be advisable to exercise the first alternative while the second alternative may not as shown. The first alternative shows to produce a more durable solution to the problem while the second alternative may not as shown. The results of my research shows that the three examined options have their pros and cons independently with a range of delivery, cost, installations, employee acceptability and satisfaction ratings, safety and hygiene and convenience. Coca Cola have experienced a high demand rates of employee turnover. My report presents the need to find the most suitable solution. It presents problem scope, two alternatives, and the necessary.
Recommendation
It is highly recommended that changes in the recruitment process occur for overall success within the organization. Although some changes will need to be made to encourage appropriate and sustainable recruitment strategies for the organization, training existing employees on the appropriate methods of recruitment and retainment of employees is much cheaper than offering employees higher wages or more significant compensation packages. In addition, ensuring that recruitment strategies are appropriate for the organization ensures that there is a good organizational culture developed.
References
Press center: Coca-Cola turnover. (2016). Retrieved from: http://www.coca-colacompany.com/press-center/press-releases/the-coca-cola-company-reports-first-quarter-2015-results/
Forbes Review: Innovative companies. (2015). Retrieved from: http://www.forbes.com/companies/coca-cola/
