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The evidence-based practice is a very important tool for decision-making because due to this, only a proper investigation is done. Due to the evidence-based practice, the decision-making of an organization is more authentic because this approach is mainly based on analyzing the evidence properly, reviewing the evidence as well as translating the newest scientific evidence. The respective report is divided into two parts the first part of the study sheds light on the concept of evidence-based practices within the organization of Speciality House Company LTD and future and current issues, opportunities and challenges. Part two of the study focuses on data analysis of the respective company.
Part 1
Evaluation of evidence based practice and its use in decision-making
The evidence-based practice is a procedure that is used within the company of Speciality House Company LTD to analyze the problems in a proper way. In addition to this, it is also a procedure to translate and review the newest evidence of scientific (Scheibe et al., 2019). The goal of evidence-based practice is swiftly to absorb the best obtainable research with the experience of the work. The evidence-based practice is a pivotal tool to provide high-quality decisions for the respective company as the concerned company has many drawbacks in it. Evidence-based practice is required within the concerned company in order to get better decisions, and the actions of informing are needed for the desired impact (Lukeš et al. 2019). The approach of evidence-based to the making of a proper decision is influenced by a fusion of utilizing critical thinking as well as the proper evidence that is best available. Due to this, the decision-makers are less reliant on the provided story. The decision-makers receive a more personal experience in the search for proper evidence for the decision-making (Islam and Schmidt, 2019). In addition to this, the decision-makers of the respective company receive wisdom to search for proper evidence. Additionally, the decision-makers do not trust the early sources, which are not so trustworthy for them.
Figure 1: Evidence-based Practice in Speciality House Company LTD
(Source: Delen and Ram, 2018)
It is very important for the people to advocate to adopt this particular approach because of the impact decision management have on the lives of working people within the various organizations across the globe. In order to strengthen the welfare of the workers, the managers are needed to search for the best evidence to make main decisions for the employees and by assuring the assurance of success for their respective organizations (Delen and Ram, 2018). There are many approaches that are used for the decision-making are as follows: searching for proper evidence by making answerable questions for the people in search of the evidence to the employees of Speciality House Company LTD (Leuz, 2018). In addition to this, by creating a captious assessment and by evaluating the connection of the evidence as well as evaluation of the performance.
Evaluation of appropriate tool and method of analysis to diagnose and recognise future and recent issues opportunities and challenges
Organisations in recent years are experiencing positive as well as negative impacts from both external and internal factors. These factors are responsible for providing certain opportunities and risks to organisations. Evidence-based factors show that these factors are the major factors for business firms to understand consequences embedded in these factors. Various ranges of techniques and tools are there for analysing issues as well opportunities of organisations. Different organisations including “Speciality House Company LTD.” utilise various tools for diagnosis and recognition of opportunities and risks. These tools are effective in case of measuring future issues and opportunities. As stated by CASAÑ et al. (2021), certain tools namely SWOT, PESTLE, and Porter’s 5 forces, questionaries for interviews, and surveys are the important tools for diagnosis and recognition of risks and opportunities in different organisations. On the other hand, these tools are effective for analysis of future as well as recent risks, threats, and challenges of organisations. These tools provide opportunities for organisations not to find out challenges and opportunities but also to mitigate these challenges.
The aforementioned organisation uses these techniques and tools for understanding embedded consequences in business practices of the organisation. Evidence-based practices, on the other hand, provide recognition and diagnosis of challenges through certain evidence of similar evidence. As per views of BASILE et al. (2021), SWOT analysis is a helpful, tool that provides a chance to know and understand strengths, opportunities, threats, and weaknesses of a certain company. This tool is beneficial as it can provide recognition and understanding of preventive measures to overcome threats and minimise weaknesses of organisations. Additionally, “Speciality House Company LTD” is can utilise this tool in case of understanding recent challenges as well as future challenges of the organisation through understanding internal aspects of the organisation. On the other hand, PESTLE analysis is an efficient tool for analysing embedded risks and opportunities through recognising external factors of organisations.
Explanation of main principles of critical thinking and description on application of these in ideas of work colleagues and individuals assisting objective and rational debate
Critical thinking is considered as a capability of people that is helpful for reflecting arguments, ideas, as well as opinions with the help of in-depth thinking. This study has highlighted the main principles of “Speciality House Company LTD” and their applications in case of assisting rational debate and objectives. The main objective of this critical thinking is sceptical in-depth thinking that denotes being open-minded as well as utilisation of cognitive thinking skills while analysing evidence. As per views of NTSHIKILA et al. (2022), critical thinking is necessary in case of establishment of assumptions and arguments as well as analysing of evidence-based practices for drawing conclusions from evidence. Critical thinking helps organisations to think scientifically and open-mindedly in case of critical decision-making procedures to make an effective and suitable decision. This type of skill is responsible for increasing the potential of humans to reflect on organisational objectives with the help of improvisation of their skills of thinking, and decision-making.
On the other hand, critical thinking and cognitive skills are effective to make humans be efficient in case of providing productivity and creativity. As per views of LAURA et al. (2022), critical thinking skills are important for higher authorities and administration of organisations to effectively analyse business operations and decisions of organisations. On the other hand, it is effective in case of low-level employees and workers to provide creativity and understand purposes behind the decisions of organisations. Critical thinking can be applied in the decision-making processes of organisations and the stated organisation can use this type of thinking in its decision-making procedures.
Assessment of various ethical theories and perspectives, as well as importance of these, for influencing moral decision-making
Ethical theories are considered as formal statements that are based on actions and activities needed by organisations in case of ethical issues. According to Everett and Kahane (2020), ethical theories can be diversified into distinct types such as deontological, virtue, and utilitarian. All of these theories are related to the decision-making procedures of companies and firms. Ethical theory regarding utilitarian aspects aims to do the utmost good for a large number of people at a time. The theory depicts industries and companies that focus to do good for all employees for their betterment. The idea is considered an ethical decision based on the consequences of different actions. The utilitarian theory of ethics gives opportunities for guessing outcomes and results of the chosen decisions of organisations to examine ethical activities. This theory is effective to make critical and effective decisions that are ethical as well as beneficial for workers and employees.
The theory has potential to aid outcomes of the decision made by organisations by maintaining ethical considerations. The company, “Speciality House Company LTD” can use the utilitarian theory for streamlining decision-making procedures of the company with ethical consideration. This helps organisations in case of maintain good relationships with their employees. And employees in return participate in the process of decision-making. On the other hand, this theory of ethics presents certain conflicting questions about finding society segments that require consideration. It can be stated that when a decision harms extremely a minor group, the decision can be depicted as an unethical situation for companies. Contrary to this, this situation can be beneficial for a large group of employees in organisations and organisations can claim that this decision is doing well for a large number of employees. On the other hand, deontological ethics is considered a prominent concept and it is associated with the idea of treating people with respect as well as dignity. As stated by Benlahcene et al. (2018), the major concept behind the theory is that “objective obligations” are needed by individuals. Utilitarian theory of ethics assists organisations to maintain certain ethical considerations in case of decision-making process.
Deontological ethics depict providing dignity as well as respect to other humans as they have human rights. As per views of Proctor (2019), virtue ethics has developed from certain philosophical reasoning that obtains attention in different areas of “public relations”. The theory embedded in this ethics involves activities and actions that make persons good. This theory includes an understanding of decision-makers in case of effective virtues which is good for public relations. This theory can consider various decisions of decision-makers for highlighting specific virtues based on understanding. The stated company can utilise this theory in case of moral decision-making procedures.
Explanation of range of approaches taken by people practitioners for identifying possible solutions to a particular issue related to people's practice
Reputed companies as well as other companies and firms in recent days are experiencing several issues in people practice. One of them is employee retention in organisations which is a huge and significant issue in recent era faced by all companies across the world. People practitioners in organisations need to focus on meeting all the basic needs of their employees through taking certain initiatives. As per views of Davidescu et al. (2020), employee retention has become a huge issue as organisations fail to satisfy basic needs as well as human needs of employees. People practitioners need to use several approaches in order to maintain employee retention in organisations. Certain approaches that are beneficial for organisations are providing drinking water facilities, good payment structures, incentives, and rewards for good working performance of employees and others. On the other hand, organisations can utilise several motivating factors such as health benefits, suitable leave structures, flexible working schedules, and others. Several effective strategies and approaches are there in case of mitigating employee retention issues in organisations such as hiring right resources and suitable recruitment procedures.
Organisations need to recruit right resources and employees that in return help to increase the rate of employee retention. On the other hand, organisations need to allocate right resources to right jobs. According to Di Vaio and Varriale (2018), people practices of organisations need to follow an approach that is beneficial for optimisation of workforce utilisation. Organisation of effective team-building actions and activities is good for employee retention. Companies such as “Speciality House Company LTD” can implement several effective training as well as on boarding programs for their employees to help them accustomed to their respective job roles. With the increase in technological development expectations of employees also have increased. Optimisation of workforce utilisation needs to be implemented in each organisation across the world to correct utilisation of resources. Flexibility in working schedules needs to be implied in different organisations to increase employee retention. On the other hand, it is beneficial in case of increasing productivity as well as creativity in working performance of employees.
Training, as well as development programs, is beneficial for employees to generate employee retention. On the other hand, other approaches such as identification of key performers are beneficial for organisations in order to increase employee retention rate. As per views of LUTFI (2022), organisations can provide regular feedback to their employees and workers as per their working efficiencies in organisations. This strategy is helpful to provide employee motivation and also increases work efficiency, creativity, and productivity of them. On the other hand, it can increase employee retention rate of organisations as employees get additional motivations through rewards and incentives from higher authorities. Effective leadership strategies can be beneficial for employees as these can provide additional benefits such as motivation, bonding with other employees, and relationships and others. The aforementioned organisation can use different ethical theories as well as certain approaches to mitigate its issues as well as challenges to get effective business operations in market areas.
Approach to measure financial and non-financial performance
In order to measure the financial performance, Speciality House Company LTD uses the balance sheet mainly. This measure is the most beneficial one to identify how well an organization is doing. It is also effective enough to identify how well this organization is able to manage its assets along with liabilities (Diana, 2020). Analysts in this context are able to find information regarding long-term vs short-term debts in this balance sheet that helps to determine the potential future growth of this organization.
In order to measure the non-financial performance, Speciality House Company LTD uses customer satisfaction. This type of measure is beneficial enough to evaluate the ability of this firm to gain a strong customer base, as well as to ensure strong financial growth (Omran et al. 2021). The presence of high customer satisfaction is also effective to run the business on a long-term basis by facilitating the aspect of the dynamic market situation. Thus, in this context, it can be demonstrated that the use of appropriate measures regarding the financial and non-financial performance of this firm is highly effective to understand the business's potential severely.
Explanation regarding adding value to people practices in an organization
In this context, it can be observed that the HR department of Speciality House Company LTD is able enough to collaborate with the workers to take effective decisions. Moreover, the organization also persuades the company leaders in order to take training through which it is possible to ensure that they can be able to develop a more engaged workforce. In addition to this, HR also keeps a strong focus to reward the strong performance of the workers and it is considered the most suitable approach to keep the employees motivated enough (Rihova et al. 2018). They are also responsible to help the employees by providing such scopes to undertake effective developments to facilitate their employment opportunities. In this regard, the employees feel more connected to the organization which is much required to achieve business goals more easily to gain a high competitive edge.
Range of methods
In order to measure the impact of a range of people practices, Speciality House Company LTD uses the “CIPD Profession Map”. It is suitable enough to identify the knowledge areas of the workers severely through observation and their ability areas to resolve the business issues from its core. In addition to this, the presence of a workplace environment is also capable to highlight the impact of the people's practices. On the other hand, in preparation for a "labor turnover report", employee morale, as well as employee satisfaction is also used here for measuring the impact of a range of people practices. For example, the "labor turnover report" is able to highlight the fact that if Speciality House Company LTD can be able to retain its workers with the help of accurate business policies or not (Yu et al. 2019). Employee morale is able to highlight the fact regarding the engagement aspect of workers in the workplace. Employee satisfaction matters most in order to evaluate that if the HR of this firm can be able to maintain the well-being of its workers or not.
Part 2
Analysis of table 1 and 2
Year
Administration total in department
Drivers total in department
Production total in department
Total costing yearly
2016
8260
43365
80535
£132160
2017
4130
37170
111510
£152810
2018
16520
66080
169330
£251930
2019
36144
48192
240960
£325296
2020
27108
96384
337344
£460836
Table 1: Costing of various departments
(Source: Created by learner)
The aforementioned table shows costing of various departments in the organisations namely “Speciality House Company LTD” through different years. As per views of KHORRAM-MANESH et al. (2022), it is clear that there is a huge difference between costing in different departments in ascertain years. During the year 2016, administration department showed costs of nearly about 8260 pounds sterling, whereas, in 2020 the costs of the department became 27108 pounds sterling. In the case of drivers, the costs were nearly about 43365 pounds sterling in 2016 and in 2020 it has increased to 963874 pounds sterling. On the other hand, the table shows that in production of the company costing were 80535 pounds sterling in 2016. Additionally, these costs also increased in 2020 and accounted for nearly about 337344 pounds sterling. The table shows that during 2020 total costs were 460836 pounds sterling and in 2016 it was about 132160 pounds sterling.
Year
Turnover rate in administration
Turnover rate in drivers
Turnover rate in production
2016
12.5
14.89
10.129
2017
6.25
12.765
14.02
2018
25
22.69
21.298
2019
37.5
11.3
20.77
2020
28.125
22.69
29.09
Table 2: Turnover rate each year
(Source: Created by the learner)
From the above table it can be stated that in the year 2016, in administration the turnover rate is almost 12.5 which made the turnover rate in drivers to be almost near to 15 resulting in production turnover to be 10.129. The scenarios are not the same in the case of 2017, as a decrease in the rate of turnover in all three fields, such as production, administration as well as drivers, occurred simultaneously, amounting to the values of 14.12, 6025, and 12.765. A huge change in the turnover rate occurred in 2018, which is completely different from the previous consecutive years. For example, 25 is the administration turnover rate being, followed by driver’s turnover rate and production turnover rate, whose values are 22.69 and 21.298.
Analysis of table 3 and 4
There are various reasons for which the employees are resigning from their jobs. Some of the major reasons are the acquisition of the business, which are found in many organizations such as Speciality House Company LTD. Most of the employees are getting more pay in the other companies and due to which the employees are giving resignation (Dwesini, 2019). In addition to this, as per the case study, 24 employees of Speciality House Company LTD left their role of jobs because the respective company has very limited opportunities to develop their careers in that field. 45 of the employees of the concerned company left the particular job because the work that has been provided to them became very monotonous and boring for them and due to which they left their job. The employees are getting bored because there is not enough work for those employees and maybe they are not feeling sufficiently challenged (Mumtaz and Hasan, 2018). Additionally, there were 3 employees who left the job of Speciality House Company LTD because the set goals by the respective manager became very difficult for the 3 employees to achieve.
Based on the case study, it can be stated that 38 employees of the respective company who left the job because of the unsocial working hours. In addition to this, unsocial working hours are against the law, and due to that, the employees are not getting any private time. Additionally, the respective company is making them work during the unsocial working time, and the work happens outside the employee's traditional time (Ramlawati et al. 2021). 52 employees left their jobs because of the bad behaviour of the manager. As per the case study, the behavior of the manager toward its employees is very aggressive, and the employees are not able to work properly under the supervision of the manager. There are many reasons for the aggressive behavior of the manager because sometimes the managers of the company are overwhelmed with the responsibilities of their work (Hayes and Stazyk, 2019).
A huge number of employees, around 94 employees, left their job in their respective companies because of the concerned company’s poor pay. As the company Speciality House Company LTD does not give proper wages to its employees. In addition to this, due to the poor wages, 94 of its employees left the job and which creates a negative impact on the concerned company. Based on the case study, there were 87 employees who left the job due to their allocation of limited intensives and which is not acceptable to its 87 employees. The employees left the jobs due to fewer incentives because, in the other companies, the employees are getting more intensive according to the work they are doing for the respective company.
82 employees of Speciality House Company LTD left their jobs because there are fewer career options in the work they are doing for the respective company. In addition to this, the 82 employees left their jobs to pursue some other careers in which they are interested and which are beneficial for them. As per the case study, 34 employees left the job due to the rising conflict among their fellow employees (Holston-Okae and Mushi, 2018). Due to this, it decreases the efficiency rate of the employees, and it is not acceptable by the respective company. Many employees commented while leaving their jobs, 17 employees left their jobs due to their strict manager as they have set unachievable goals for their employees.
Recommendation to reduce employee turnover
Based on the case study, there are three recommendations that can be given to the employees of Speciality House Company LTD, such as offering flexibility to its employees, recognizing the best and most loyal employees, and giving those rewards for their best work. In addition to this, the respective company can hire the right employees for their respective work, such as skilled employees. There are many benefits of offering flexibility to the employees because it increases the productivity of the employees and is beneficial for the company. The next benefit of offering flexibility is that it promotes balance and healthy work-life for the employees, and the efficiency rate of the employee's increases. Due to the flexibility given to the employees, it becomes better job satisfaction for the employees (Khan et al. 2020). The risk of offering flexibility is the employees can take advantage of it and can break the rules and regulations of the company and not work in a proper way.
Figure 2: Recommendation for reduction of employee turnover
(Source: Self-Created)
There are various benefits of recognizing the best and most loyal employees because those employees are ready to invest their time in the company's work. In addition to this, the best employees will be able to provide new and innovative ideas to improve the functions of the respective company. The risk of getting good employees is that after the recognisation from the company, the employees become very reluctant and try to dominate the other employee's by showing that the company has trust on that particular employee. There can be many financial implications, such as there can be an unequal distribution of the wages among the employees for the same job. There are many benefits of hiring the right employees within the organization because it saves time for the respective company to do a particular job as the employee itself is very skilled to do that particular job (Majeed et al. 2018). Another benefit of hiring the right employees is that the company does not have to spend money on training the employees. The hiring can also be done based on the interested employees for that work which will increase the efficiency rate of the employees.
Conclusion
Based on the above study, it can be concluded that the respective company of Speciality House Company LTD has many issues for which the employees are giving resignation. The main highlighting area of the study is the evidence-based practices that are performed in House Company LTD for boosting its performance. The respective study has a clear discussion about the analysis of the proper tools to recognize the upcoming challenges and opportunities for the concerned company. The study also highlights three recommendations for the respective company, which are offering flexibility to its employees, recognizing the best and most loyal employees as well as hiring the right employees.
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