Data Analytics Assignment #2 (based on chapters 1 & 2) Two organizations were at

Question

Data Analytics Assignment #2 (based on chapters 1 & 2) Two organizations were attempting to reduce absenteeism. They implemented the following solutions: Organization 1: Offer healthy snacks in the vending machines and free fruit and veggie trays every MWF. This will cost the organization $5,000 per calendar year. Organization 2: Offer employees reimbursement for their gym membership fees up to $75 per month. This could potentially cost the organization $100,000 per calendar year if all employees take advantage of the program. Assume that both options when implemented resulted in a 5% reduction in absenteeism in the same calendar year. 1) 2) 3) Utilizing the concept of a cost benefit analysis, which option is more efficient? Why? Which option is likely more attractive to potential employees in your opinion, why? Assume that organization 2's strategy only yielded a 2% reduction in absenteeism, would the investment still be worth it, in your opinion? (please use some form of quantitative analysis to justify your opinion) What pieces of information would you need in order to better understand the financial impact of these options? What other factors could potentially impact absenteeism aside from the health of employees? 4) 5) How could you ensure these were not factors in the analysis that indicated a 5% reduction in absenteeism? (i.e. how do you prove causation?)

Explanation / Answer

Ans.1 -

It is clear that option chosen by organizaton 1 will be more cost effective.

Reason - Organizaton 1 option would cost $5000 per year. Organization 2 it will cost $100,000 even if 20% opt for that program still the cost will be $20,000 which is more than Organization1 option.

Ans. 2

Option 2 would be more attractive to potential employees. Reason being most employees would already going to GYM so they would save directly $75 per month. Also there is cash reimbursement which will attract more than the free fruits and veggies thrice a week.

Ans.4

Information needed would be

1. Total employee strength of the company.

2. past years abseentism data employee wise

3. current year abseentism data employee wise (year post implementating strategy)

4. Total employees who took advantage of GYM strategy monthly.

Ans 5

Part from health following:

1. employees having small children for their commitments to school, etc

2. employees having dependent old parents.

3. Negative work environment

4. High pressure jobs

5. Late working hours

6. Different career ambition of employee

7. Personal problems (family, love life, etc)

These factors were not considered above because both the strategies are such which directly affects the health of the employee and after the implementation of both the strategy there is 5% reduction in absenteesim. hence it is clear that the factors were only related to health.

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