An externality is any impact, be it negative or positive, on individuals in each economic transaction. An externality in the health care market, is something that affects other people outside of the other parties involved in an exchange. The critical externality in most systems is the care provided to others. Health care costs are also affected by others choosing to purchase health care. The healthy pay more to the insurance company than they receive in treatment, while the opposite is true for…
the biggest advocates for the bank. By creating stronger and more meaningful ties between employees and the bank, Gotham will have a lower turnover rate for this position. It will also help improve job satisfaction and reduce absenteeism. Lowering turnover rates and absenteeism has an added bonus of also lowering staffing…
growth of organisations. This definition shows that the Human resource department is a fundamental factor in the overall progression of a business. The Human resource function focuses on many things such as; Human focus – e.g. employability, absenteeism; Resource focus – e.g. employee motivation, training and development; Management focus – e.g. wellbeing of employees, health and safety. It is important for each function of a business to stay separate as it gives them the opportunity to…
Motivation has been described as the desire the employees have to perform work whether they like it or not (Kelley, n.d). It is what drives employees to perform their roles and responsibilities. Managers need to know what the employees needs are and satisfy them so that they can be motivated to do their work. The motivation of employees to do certain things has a direct relationship with the ability of an organization to achieve its goals and objectives. Only if employees are motivated enough to…
The external environment is constantly changing. It consists of events and forces outside of a company that has the potential to affect or influence it. Simpsons Plastic Products Corporation is operating in a competitive environment. Simpsons stands out amongst competitors with its strong research and development division, however, the company lost two of its key employees recently due to competition. Competitors are companies they operate in the same industry that offer similar products or…
Surveys completed by the United States Department of Labor have shown that 91% of American businesses have reported that compliance with the FMLA has had a positive, or at least neutral, impact on “employee absenteeism, turnover, and morale,” and 85% of businesses reported that FMLA compliance is easy or at least non-impactful, on the functioning of their organizations (WHD, FMLA Survey…
Employees who use illicit substances expose the risk of profitability efficiency, production, and workplace safety. They’re also accompanied with a “higher rate of absenteeism, higher health care and compensation claim costs, and more on-the job injuries” (46). Federal and state laws still mandate workplace drug-testing. When employers utilize the drug testing policy, they are obligated to abide by laws legislated by…
With over 900,000 working visa’s issued in just five and a half years (Statistics New Zealand, 2014), and the median age of the labour force projected to grow exponentially (Alpass, F. & Mortimer, R. 2007) New Zealand organisation’s are already, and increasingly becoming more diverse. Organisations are always changing; these changes whether they be internal or external, foreseeable or unpredictable, create challenges and implications for the management of employer relations. Ongoing changes such…
To address whether the employee leaves granted by the Family and Medical Leave Act (FMLA) represents an undue burden on employers required to comply with the Act it needs to clarify that this Act provides employees with up to 12 weeks of unpaid, job-protected leave per year. This information which is provided by the United States Department of Labor also explains that during the leave the employees also maintain their group health benefits. (1) For the employee side, this act is a fantastic…
Throughout the world eating habits differ from each other. Within western society the eating habits can be considered unhealthy compared to the rest of the world. The western diet can lead to obesity. It mainly affects African Americans and Hispanics in low income areas because they can afford it. Childhood obesity has also become a problem due to location and quality of food. Obesity also affects the economy it causes the government billions of dollars in health insurance yearly. In some cases…