Assignment
Question and Answer
Student Name:
Student ID:
1. Describe different options available to a company for labor supply:
Following are the different options for a company to manage labor supply;
PERMANENT EMPLOYEES:
They work directly for the employer and are paid by the employer. They do not have pre defined employment end date. In addition to the salary they receive other incentives. The employer hire them through proper human resource channel.
CASUAL EMPLOYEES:
Another option for the company to manage labor supply is through casual employees. In casual employees the company has the option of both short term and long term casual employees. They are paid on hourly basis and they do not receive other incentives or bonuses like …show more content…
In outsourcing the companies labor supply is managed by the other company which is used as out sourced company. The host company make the contract with the outsourced company or the company hire employees out of the facility of their organization.
OFFSHORING:
In this the company relocates its plant from one country to another country. The labor supply for the company is fulfilled the company who is used for off shoring.
CONTRACTORS:
The company hires contractors who provide the labor for the given time period. In contractors the company can make the contract of the particular task with the other party who is responsible to complete the work for the company.
2.Describe each of the following common labor hire sources, and outline the advantages and disadvantages of each.
CASUAL LABOR:
Description:
They do not have guaranteed work hours, work on both regular and irregular hours. They do not get paid sick leaves and annual leaves. They can also end job without prior notice.
Advantages:
• No fix work hours
• Employed at higher hour rates.
• Flexible environment
• New learning opportunities
Disadvantages:
• No guarantee work hour means no regular income.
• No paid leaves of any kind
• No work …show more content…
Independent Contractor (Self-Employed) or Employee? (2017), [Online], Available: HYPERLINK "https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-or-employee" https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-or-employee [2017].
Murray, J. (2016) Which Should I Hire - Employee or Contract Worker?, [Online], Available: HYPERLINK "https://www.thebalance.com/which-should-i-hire-employee-or-contract-worker-398616" https://www.thebalance.com/which-should-i-hire-employee-or-contract-worker-398616 [2017].
Reddy, C. Contract Employment – Top 10 Advantages and Disadvantages, [Online], Available: HYPERLINK "https://content.wisestep.com/advantages-disadvantages-contract-employment/" https://content.wisestep.com/advantages-disadvantages-contract-employment/
Question and Answer
Student Name:
Student ID:
1. Describe different options available to a company for labor supply:
Following are the different options for a company to manage labor supply;
PERMANENT EMPLOYEES:
They work directly for the employer and are paid by the employer. They do not have pre defined employment end date. In addition to the salary they receive other incentives. The employer hire them through proper human resource channel.
CASUAL EMPLOYEES:
Another option for the company to manage labor supply is through casual employees. In casual employees the company has the option of both short term and long term casual employees. They are paid on hourly basis and they do not receive other incentives or bonuses like …show more content…
In outsourcing the companies labor supply is managed by the other company which is used as out sourced company. The host company make the contract with the outsourced company or the company hire employees out of the facility of their organization.
OFFSHORING:
In this the company relocates its plant from one country to another country. The labor supply for the company is fulfilled the company who is used for off shoring.
CONTRACTORS:
The company hires contractors who provide the labor for the given time period. In contractors the company can make the contract of the particular task with the other party who is responsible to complete the work for the company.
2.Describe each of the following common labor hire sources, and outline the advantages and disadvantages of each.
CASUAL LABOR:
Description:
They do not have guaranteed work hours, work on both regular and irregular hours. They do not get paid sick leaves and annual leaves. They can also end job without prior notice.
Advantages:
• No fix work hours
• Employed at higher hour rates.
• Flexible environment
• New learning opportunities
Disadvantages:
• No guarantee work hour means no regular income.
• No paid leaves of any kind
• No work …show more content…
Independent Contractor (Self-Employed) or Employee? (2017), [Online], Available: HYPERLINK "https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-or-employee" https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-or-employee [2017].
Murray, J. (2016) Which Should I Hire - Employee or Contract Worker?, [Online], Available: HYPERLINK "https://www.thebalance.com/which-should-i-hire-employee-or-contract-worker-398616" https://www.thebalance.com/which-should-i-hire-employee-or-contract-worker-398616 [2017].
Reddy, C. Contract Employment – Top 10 Advantages and Disadvantages, [Online], Available: HYPERLINK "https://content.wisestep.com/advantages-disadvantages-contract-employment/" https://content.wisestep.com/advantages-disadvantages-contract-employment/