Financial Analysis of Honeywell

Table of Contents

Page

Introduction......................................................................................................................................4

Problem Statement ...............................................................................................................4

Research Objectives............................................................................................................. 4

Background .........................................................................................................................5

Importance and Benefits of Study.........................................................................................6

Scope of Study .....................................................................................................................7

Review of Related Research Studies ..............................................................................................9

Lack of Career progression Opportunities............................................................................9

Job Satisfaction...............................................................................................................10

Lack of Increased Responsibilities.....................................................................................11

Summary ............................................................................................................................12

Research Methodology..................................................................................................................13

Research Design ................................................................................................................13

Sampling Design................................................................................................................14

Data Collection Methodology............................................................................................14

Data Analysis Methodology ............................................................................................16 Limitations....... ...............................................................................................................17

Analysis and Findings....................................................................................................................17

Conclusions....................................................................................................................................19

Summary ..........................................................................................................................20

Primary Conclusion.................................................................................20

Recommendations...................................................................................20

References Cited............................................................................................................................21

Appendixes

A: Survey Instrument. ........................................................................................................23

B: Project Schedule .........................................................................................................28

C: Tables and Charts.......... .............................................................................................29

A Study of the Factors Resulting to the High-Turnover Rate of High-Performing

Field Service Engineers of Honeywell Aerospace

Problem Statement

1 The Honeywell Aerospace Customer and Product Support Engineering Department has experienced a high- turnover rate of high-performing Field Service Engineers working in the Total Integrated Engine Revitalization Program for the last two years. When the program first started in 2005, there were a total of 16 Field Service Engineers. Now, there are only 10 Field Service Engineers who supports 16 locations globally and the company is having difficulty hiring new employees due to the quality of experience required for the position. 2 Due to the increased requirements by the program, management wanted to find out the reason for the high-turnover rate because it had consequences for the company. Less Field Service Engineers meant that some location will only be supported on a temporary basis and it resulted in poor customer service and poor companywide performance.

Research Objectives

3 The research objective was to identify which factors the employees considered as the main reason why Field Service Engineers leave the job. This study analyzed the factors that the Field Service Manager, the four Customer and Product Support Engineers, and the 10 Field Service Engineers have identified to be the cause of turnover of employees. 4 The research question asked: Which of the selected factors do selected employees view as the main reason for the high-turnover rate of high-performing Field Service Engineers in the Customer and product Support Engineering Department of Honeywell Aerospace: lack of career progression opportunities, job satisfaction, or lack of increased responsibilities? We hypothesized that the lack of career progression opportunities and job satisfaction are viewed as the reasons for the high-turnover rate in the department.

Background

Honeywell's Total Integrated Engine Revitalization (TIGER) program is a $1.5 billion project that began in