A Zero Wage Increase Again? Case Study Help
On the other hand, not providing any wage increase for a third consecutive year would lead to draw anunwelcoming picture of the company not only in front of the employees but also in front of various external stakeholders, including the shareholders. Protests and distressesmight lead to some turning points in the workforce. In the long run, all of this would be reflecting negatively on the company's financial position. Moreover, even the good performing workers of the company might decide to leave the companyin the future. Employees’ turnover is most likely to increase as the company decide to continue the strategy of no wage increase. Long run effects would be followed by the uncertainty among new potential staff who could be hired.
Alternate
The third and last alternative belongs to the decision in which Mark should decide to raise the wages of those employees whose performancesare up to the mark and entitlethemwith an increase in wage. The advantages of this strategy belongs to the appreciation of the star performers of the company to continue their excellent performance that would be in the best interest of the company. In addition to this, the in house culture would more be established by developing the rule that an increase in wage in House, Hearth and Home organization is related to the performance of an individual employee.
As a result, the employees who are taking the company for granted will start to work on their performance if they wish to increase their wages, otherwise will leave the organization. In addition to that, this strategy will provide an intelligent allocation of assets and expenditures that are closely linked with the wages and performance of an employeein order to identify that the company’s expenditures would not exponentially rise with this approach of strategy.
Recommendations:
The third and last alternative belongs to the decision in which Mark should decide to raise the wages of those employees whose performance are up to the mark and entitled them for an increase in wage should be selected, because this approach restores the feelings of enjoyment, value, challenge, and accountability in the employees that might lead towards the an increase in the motivation and satisfaction level of the employees. In addition to this, the third alternative will help to reduce the absenteeism in the employees, which will definitely increase the productivity of the company ultimately the growth in the company’s financial position and managerial stability........................
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