Question

In: Operations Management

Case: Irasen Foods and Beverages is planning on opening a new plant in 18 months. You...

Case: Irasen Foods and Beverages is planning on opening a new plant in 18 months. You have been invited to prepare a plan to hire, select and train almost five-hundreds new employees that will be needed over the next two years.

1. Prepare a plan outline of how to hire and train an entire staff of new employees below the second level of management in one year and have them ready to open the new plant?

2. How should you go about procuring the balance of the five-hundreds  workers needed to staff the plant by the projected full-operations date?

Solutions

Expert Solution

Irasen Foods and Beverages has plans to open a new plant in the coming 18 months. To make this possible it intends to hire 500 employees below second level of management of which some shall be hired in the first 1 year and rest shall be deployed in the last 6 months.

1. Following hiring and training process should be implemented at the company to acquire and train the resources in the first phase of hiring.

a. Defining a resource plan: A comprehensive resource plan should be developed with inputs from all key stakeholders. They include senior stakeholders from operations, marketing & sales, manufacturing etc., Resource plan shall contain number of resources required for each job, job descriptions, selection criteria and approved budgets. This plan also contain schedule for all the activities from hiring and onboarding to completion of training for all employees.

b. Developing a hiring plan: Based on the resource plan a hiring plan is developed. it involves identification of hiring platforms, strategy for hiring like outsourcing to others, campus hiring, conducting job fairs etc., It also helps in identifying priority hiring requirements like operations and manufacturing teams who require sufficient training before they start their jobs. Other positions like marketing and office administration can be hired in second phase of project.

c. Hiring process: Based on the strategy finalized, Hiring is conducted through various sources and the offer letters are issued to selected employees.

d. Developing a training plan: Based on the skillsets of people selected, training plans and requirements are created and customized. This can be done through expert opinions or surveys from the employees.

e. Onboarding and Training: Employees are hired, and subsequent formalities are completed at this stage. All the employees are assigned based on their department, seniority, skillset etc., and subsequently sent for training through various programs like classroom trainings, online trainings, on-job trainings etc.,

2. Once the hiring and training of first priority employees is streamlined, Irasen Foods and Beverages should focus on taking up second phase of hiring process. As described above, staff with minimal training requirements can be hired closed to the operations date. Staff responsible for administration, accounting, marketing and sales etc., are hired in the second phase. These people can be a mix of experienced and junior professionals who can join and augment the service offering in shorter period of time. Accordingly, training programs are designed and implemented upon the selection and joining at the firm.


Related Solutions

Fibertech is deciding on opening a new plant. The new plant will be located on the...
Fibertech is deciding on opening a new plant. The new plant will be located on the existing land, which the company purchased 2 years ago for $1 million. The company has also spent $300,000 for market research. If the plant is not opened the company will rent out the land for $200,000 per year. The expected sales of the new plant are $2.3 million per year for the next 5 years. The new plant's construction costs are $2 million (Year...
You are considering opening a new plant. The plant will cost $103.9 million up front and...
You are considering opening a new plant. The plant will cost $103.9 million up front and will take one year to build. After that it is expected to produce profits of $30.4 million at the end of every year of production. The cash flows are expected to last forever. Calculate the NPV of this investment opportunity if your cost of capital is 7.5%. Should you make the​ investment? Calculate the IRR and use it to determine the maximum deviation allowable...
You are considering opening a new plant. The plant will cost $97.9 million up front and...
You are considering opening a new plant. The plant will cost $97.9 million up front and will take one year to build. After that it is expected to produce profits of $30.4 million at the end of every year of production. The cash flows are expected to last forever. Calculate the NPV of this investment opportunity if your cost of capital is 7.8%. Should you make the​ investment? Calculate the IRR and use it to determine the maximum deviation allowable...
You are considering opening a new plant. The plant will cost $ 95.5 million up front...
You are considering opening a new plant. The plant will cost $ 95.5 million up front and will take one year to build. After that it is expected to produce profits of $ 28.4 million at the end of every year of production. The cash flows are expected to last forever. Calculate the NPV of this investment opportunity if your cost of capital is 8.5 %. Should you make the? investment? Calculate the IRR and use it to determine the...
You are considering opening a new plant. The plant will cost $ 96.2 million up front...
You are considering opening a new plant. The plant will cost $ 96.2 million up front and will take one year to build. After that it is expected to produce profits of $ 29.6 million at the end of every year of production. The cash flows are expected to last forever. Calculate the NPV of this investment opportunity if your cost of capital is 8.2 % Should you make the​ investment? Calculate the IRR and use it to determine the...
You are considering opening a new plant. The plant will cost $101.8 million up front and will take one year to build.
You are considering opening a new plant. The plant will cost $101.8 million up front and will take one year to build. After that it is expected to produce profits of $30.9 million at the end of every year of production. The cash flows are expected to last forever. Calculate the NPV of this investment opportunity if your cost of capital is 7.8%.Should you make the investment? Calculate the IRR and use it to determine the maximum deviation allowable in...
You are considering opening a new plant. The plant will cost $99.5 million up front and will take one year to build.
Please show all work and how to input it into a fin calculator You are considering opening a new plant. The plant will cost $99.5 million up front and will take one year to build. After that it is expected to produce profits of$28.9 million at the end of every year of production. The cash flows are expected to last forever. Calculate the NPV of this investment opportunity if your cost of capital is 8.2%. Should you make the​ investment?...
A firm producing computers considers a new investment which is about opening a new plant. The...
A firm producing computers considers a new investment which is about opening a new plant. The project’s lifetime is estimated as 5 years and requires 22 million $ as investment cost. Salvage value of the project is estimated as 4 million $ (which will be received in the sixth year) However the firm prefers to show salvage value only as 2 million $. The firm uses 5-year straight-line depreciation. It is estimated that the sales will be 12 million $...
M1_IND3. A distributor of fasteners is opening a new plant and considering whether to use a...
M1_IND3. A distributor of fasteners is opening a new plant and considering whether to use a mechanized process or a manual process to package the product. The manual process will have a fixed cost of $36,234 and a variable cost of $2.14 per bag. The mechanized process would have a fixed cost of $84,420 and a variable cost of $1.85 per bag. The company expects to sell each bag of fasteners for $2.75. a) What is the break-even point for...
            The Fukushima Power plant is planning construction of a new plant to generate electricity four...
            The Fukushima Power plant is planning construction of a new plant to generate electricity four years hence and must decide now between a small, medium, or large-sized plant. The exact size needed is uncertain because future demands can only be estimated. Forecasters have estimated future demands and their likelihoods as follows: Level of Demand Probability High 0.30 Medium 0.55 Low 0.15 In the following, all the future costs and earnings have been adjusted to their present worth: If a...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT