Outline the business research process (Make sure the process you identify requires a survey, among other data sources.)
The business research process will be:
? Define the problem. Make the focus of the research something you 'need' to know.
? Collect the data. There are various ways to collect data to be analyzed.
? Select a sampling method.
? Analyze the data
? Write the final report.
Defining the problem
Movement of individuals into, through, and out of an organization is termed as turnover. Turnover can be statistically defined as the total number (or percentage) of separations that occurs over a given time period. The turnover rate is an important indicator of the morale and health of an organization.
A severe problem facing our fast food organization today is the issue of retaining and attracting human resources. These resources that were stable in the past are the most mobile and fickle today. Thus managing employee turnover is critical to any and every organization. According to the fratfiles "Conservative estimates put the cost of replacing a lost employee at 25 percent of the annual compensation amount. For the typical full time employee who earns $38,481 and receives $50,025 in total compensation, the total cost of turnover would amount to $12,506 per employee."
Thus the employee turnover can significantly affect the profits. According to the about.com, Total employee turnover cost = Costs of hiring new employees + Costs of training new employees. We will research this issue intensively for our organization and our problem statement is:
"Quantum and Impact of employee turnover on our organization'
We will use both primary and secondary sources of collecting data. Both exploratory and conclusive research exemplifies primary research. We will do primary research by survey and interview to know the causes of reduction.
We will do employee Survey to collect the data. It is used to:
? To Capture a Wide Variety of Information
? Measuring the ...
1114 words with references outlines a business research process with the final goal of improving employee turnover rates in fast food by applying research principles. Also attached in Word.