By having these policies it will show that the company is willing to be competitive and will do what it takes to recruit and retain employees. There is a problem with a policy like this. It would not be a low cost strategy. Companies would be paying more for certain jobs or all jobs but they would be paying a lot in compensation. To do this the company would have to take away from other parts in the company like training, development and growth.
An example of this could be social security benefits. These motivations help the company recruit top level employees and increase their overall productivity. But this can be a trade-off as these benefits and rewards can be costly. Takeaway 2 - Corporate Culture, Human Resources, and Ethics Zappos is a great example of a company that has created a lively atmosphere for their workers through their casual working environment. But another takeaway is that this type of culture is not compatible with many companies.
Choosing to use specialty task assignment the specialization will be maximized and lower the cross-training costs. That is allowing the company to match employees with jobs considering their skills and training. Employee will be limited to performing one function and are not flexible to perform other task and fill the gaps when need it. That also mean the company has to hire more staff depending on the productivity rate and production technology. In specialized task assignment we observe functional myopia, meaning workers are concentrated on the function they perform instead of the whole process.
Monopoly is where only one company is providing a good and or service. Businesses may maximize profit in each market type by agreeing upon a lay down price. Perhaps businesses cannot agree upon a set price then the price is going to be above marginal cost. If the company is in competition with other companies in the same market, making decisions about prices, how they advertise, output, etc, can influence the profits of every, if not all companies in the same market. This is where management gets involved to ensure the company that their strategic way of thinking and planning can and will allow the company to gain
It would be beneficial to have him take the What Time of Day am I Most Productive survey to see if his poor decision making is based on his ability to focus. The characteristics of the employees make up the characteristic of the company, and both of these are a direct reflection of their leadership. Keeping employees happy is a key element to success, as noted in (Robbins & Judge, 2011), “Therefore, companies implement programs; such as piece-rate pay where workers are paid a fixed sum for each unit production completed”. It is imperative that a company can attract and retain a skilled workforce. Ensuring that their compensation is competitive with the market and valuing the employee’s opinions are just two ways to accomplish this.
Then he created the piece-work program, which incentives employees with more freedom. The program, however, faces a serious obstacle concerning the difference of two types of employees-the clock-punches and the go-getters-. In this process, Soderbey discovered that discipline could not motivate the employees and improve production, while he wanted to get more from employees. Money is the central factor to incentive the employees. So he created the Shared Savings Program having nine primary features.
I. Unionization a. Unionization in its simplest form is the collaboration of a group of workers in a certain industry. b. Motivations for unionization — Personal job dissatisfaction usually leads to the need for Collective Bargaining  Collective bargaining includes: o Salary improvement o Retirement requirement and benefits o Better working conditions o Management misbehavior against employees o Effective conflict resolution — Belief that unionization will lead to concrete improvements as a result of Collective Bargaining II. Economists have two different views of the effect of unionization in the economy: First view is that unionization is good for the economy and the other view states the contrary. A According to the organizers of the American Worker Project, David Madland and Karla Walter, whose goal is to conduct research on the increase of wages, benefits, and security of American workers – “the essence of labor unions is to allow workers to reap the benefits of the economic growth they help create.” i.
Second, I will discuss the problems administering the Act and what is being done in today’s business world. Last, I will discuss some recommendations that have been associated with this law. The advantages of the Equal Pay Act are that employers may not pay unequal wages to men and women who perform jobs that require substantially equal skill, effort and responsibility, and that are performed under similar working conditions within the same establishment. The key issue is what skills are required for the job, not what skills the individual employees may have.The disadvantages can be that pay differentials are permitted when they are based on seniority, merit, quantity or quality of production, or a factor other than sex. (U.S.
Labor Relations MGT/431 - Human Resources Management August 25, 2010 Labor Relations The economy of today limits the power of unions within an organization. Priorities of businesses focus on staying in business not the threat of unions. Open communication between businesses, employees, and labor relations is vital to the strategy of any company. This paper will define union and labor relations and the affect on organizations. This paper will also observe the effect of changes in employee relations strategies, policies, and practices on performance.
A change in the minimum wage that would affect only workers it seems can be felt all the way down to the consumer, who might end up paying for it in the end, unless the firm finds another way to pay for the mandatory raise for all its workers. This means, a decrease in the workforce or a change in the production process. Without really noticing or paying attention to it, the consumer might not feel it. A change in the minimum wage has short term and long-term effects on the economy. Either it can be beneficial or it can be devastating to society.