Corporations in our society today are always seeking out ways to cut costs, resulting in payback to their employees and stockholders. One technique that many corporations in America are looking towards is international outsourcing. The outsourcing of jobs is proving to save corporations large sums of money because the wage that is paid to workers in other countries is much cheaper than here in America. Many of these jobs that are being outsourced are entry-level positions, factory jobs and Information Technology jobs. Finding a way companies can save and reinvest that money into their products or pay it back to their shareholders has proven to benefit the corporations and its’ stakeholders.
Your guys believe reaffirms the shareholders’ ideology, which states that the main purpose of the business is to maximize profits (Williams, 2015, p. 80). This practice is not unusual in the business world. A recent example, provided by the New York Times, is when Harley-Davidson started firing its employees to cut down on costs. That helped them triple their profits in one year, proving that this method is effective (Schwartz, 2010). On the other hand, given the fact that only one manager will remain employed we will have to put a lot more work on the rest of our employees.
By allowing someone to buy goods they cannot afford now, creates a boost due to the facet of revenue cycling back through small businesses. That’s also good for our tax base. Raising the minimum wage will lower the rate of employee Turnover, by doing this you create lower cost of hiring and training. Higher wages can also be a positive by increased productivity. According to the Better Business Bureau, “When an employee has investments inside the business he or she is employed at, he or sh... ... middle of paper ... ...r businesses paid in 1960’s.
The government needs to raise the minimum wage as it raises the income of people, which saves the taxpayers money and allows it to be used on things such as schools and fixing roads. Also, increasing the minimum wage creates wage growth, which helps grow the GDP, as people have more disposable income. Lastly, increasing the minimum wage reduces the wage gap between the CEOs and working class, with the purpose of distributing more of the profits to the working class to help pay for health care and education. In today’s world of capitalism, there should be a cap on how much one can make in a year in order to help the working class, who ultimately help keep the companies in business.
The national minimum wage in the United States is $7.25. Employees and lawmakers feel that increasing the minimum wage to $10.10 will help boost the economy. The increase of minimum wage will bring people out of poverty and will be able to stimulate the economy by buying more items. This will help the nation pay back more debt and bring in more revenue for the country. Besides a positive effect with the nation as a whole, it will help workers financially.
In addition, SG Lim also introduced the Progressive Wage Incentive (PWI) in early 2014, replacing the previous Best Sourcing Funding Scheme , qualifying service buyers who best source services from service providers exercising the PWM structure for funding of up to 10% of their contract value. Moreover, the Inclusive Growth Programme complements the PWM by financing job and process redesign in companies to increase productivity while ensuring the sharing of productivity gains with workers through means of higher wages. The PWM may impress with promises of progressive wages and social mobility for low-wage earners, but its true viability and applicability remain in question. Detriments of the Progressive Wage
The labor group is interested in the tax cuts, because it will provide them with more money that they need. In addition, if the agenda does what it proposes it will do, new jobs will be created; therefore, people in the labor group can find jobs more easily and have more money in their pockets. Due to the labor group's interest in the leader's agenda, Maximilian, Harvey, and Stan each must be well informed of what the labor group wants and needs in addition to how the agenda will affect them. Overall, this lobbyist team's message is that their leader's agenda has positive outcomes that will benefit the labor group. ... ... middle of paper ... ...am Performance.
In return for this, we reap the reward of poorly made products at low cost. The majority of Americans, if polled, would not mind paying 5-10% more for an item, if the factory that produced the item was on American soil and providing jobs for Americans. We have to get America back to work and to do this we need to provide well paying job opportunities with benefits and advancement potential. Employees should be rewarded for continuing their educations and becoming even greater assets to their companies. Employers need to be given incentives to manufacturer in the US and should pay higher taxes when they choose to manufacturer in other countries.
The greater the profits, the better the needs of the consumers are supplied.” Entrepreneurs are able to see if the consumers approve of their work by the amount of profit that they make. Profit is able to increase the number of people that are employed, which is beneficial to both the country and the individual. Staff member of the Foundation for Economic Education, Howard Baetjer Jr. points out that, “As more and more goods are produced in greater and greater numbers, prices of just about everything drops.” The increased production is brought upon by the desire of businesses and corporations to achieve more profit. The higher wages that result from more profit are just as important as the increase in production, which allows for more employment. Higher wages and increased employment result in an improved standard of living.
(Sasanow, 45) A recent survey shows that 18 percent of all companies made their matching contributions this way. Now for small, fast-growing businesses this would not seem as much of a risk since these companies' stock are generally on the increase. But for some large corporations, this is a great risk for employees since a lot of their retirement money is now based on how well the company does. Some say that because contribution matching is now based on how well the company does, then employees will strive to do a more efficient job in order to increase the overall stock price of the company, which, in turn, will increase the amount of retirement they will receive. Now the problem of timing comes in again.