Unit 9 seminar - Research Paper Example

Human Resources Human services professionals should measure the costs of their program together with the principle of economics, such as stating a clearer picture from which costs are measured. The perspective of the programs can imply for the value placed and which resources to count. To determine if their programs are cost effective the professional need to have a cost-effective analysis since it compares costs to units of the objectives of the program as it also ensures no “net benefit” is produced, with costs exceeding benefits or benefits exceeding costs.

Another way to determine if the program is cost effective is through a true benefit - cost analysis. It entails measuring the costs of the program from a social view and which are measured against the willingness of the society to pay for the outcome. An advantage to this analysis is that both the benefits and program’s cost are measured in one unit; say in dollars hence creates social “profits." The third way human service professionals may consider is analyzing the impact of the program on public costs, thereby assessing intervention’s impact on the costs.

All these three ways will go a long way to reflect the target audience and research budget (Kramar et al, 3013).A dropout prevention program in high school is cost effective since the benefits and key outcomes can be measured in relation to the costs. The benefits of this program are that lives will be saved and enriched, earnings increased, costs for taxpayers decreased, and quality of living increased (Schuler & Jackson, 2014). Participants will have a higher lifetime earnings since they will receive little welfare payments and have higher self esteem.

To the society the government will in turn decrease its subsidies; tax paid by participants of the program will be increased, whereas social problems and crime will be decreased.Statistical significance is about measuring the importance of statistics to the results or how much statistics can be counted upon and usually based on samples. It is scanty about the magnitude of change or if the relationship is meaningful. The disadvantage of it is that it is inadequate to determine the importance of results.

There s also the likelihood of getting similar results in the future (Zhu, 2013). Where as in Practical significance provides information about magnitudes of change since it provides more digits in expressing results than makes sense. There is unlikelihood to obtain similar results in the future in practical significance.ReferencesKramar, R., Bartram, T., De Cieri, H., Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2013). Human resource management: Strategy, people, performance.

McGraw-Hill Education.Schuler, R., & Jackson, S. E. (2014). Human resource management and organizational effectiveness: yesterday and today. Journal of Organizational Effectiveness: People and Performance, 1(1), 35-55.Zhu, C. J. (2013). Human resource management in China: Past, current and future HR practices in the industrial sector. Routledge.