Based on an analysis of the industry and labor market trends, a VP of Human Resources has determined that the best course of action for her company is to change from a narrow to a broadband salary structure. The current structure has been in place for more than 15 years, and the VP is anticipating strong resistance to making the change. Which of the following tools should the VP use to convince the executive team to make the change?
- Build a business case.
- Calculate the return on investment.
- Conduct a SWOT analysis.
- Calculate the cost-benefit analysis.
Answer(s): A
Explanation:
Answer option A is correct. A business case lays out the desired result of an action or program, presents alternative solutions, describes possible risks from both implementing and not implementing the action, and defines the criteria used to measure success. ROI (B) and CBA (D) may be included as part of the business case, and a SWOT analysis (C) may have identified the need for a program or action.
Chapter: Core Knowledge Requirements for HR Professionals Objective: Review Questions
Reveal Solution Next Question