The study concluded that dollar-cost averaging would be unlikely to topple the superior results of lump-sum investing at this time (Williams and Bacon).
Profit-sharing allows employees to earn bonuses according to company performance (GoSmallBiz 2008). A certain percentage is set aside by the firm and paid to the employees if certain annual profit goals are met or exceeded. Bonuses are paid in cash or as a contribution to the retirement fund, or else partly in cash and partly as contribution to the retirement fund. The advantage for employees is that they share in the company's profits. The disadvantage is that they receive the share even if their performance does not improve or they do not receive it even if their performance improves (GoSmallBiz 2008).
A lump-sum incentive pay is a one-time cash payment equal to a certain percentage of an employee's base wage (GoSmallBiz 2008). If there is a 4% annual increase, for example, the company may give the employee a one-time cash payment equal to 5% of his or her annual pay. The main advantage for the company is that lump sum does not accumulate or increase, as it is one-time. The advantage to the employee is receiving a large amount, which they can invest right away, instead of small amounts spread out through the year (GoSmallBiz).
Negotiating Reduced Health Insurance Care Costs While Maintaining Good Health Care Benefits - Better quality health care costs do not have to be high. They vary according to the type of medical or hospital procedure, the location of the facility and the patient's residence (Carlson 2008). Suggested ways of reducing these costs while raising one's health level were taking good care of oneself; practicing self-examination and submitting to appropriate medical check-ups; becoming and remaining aware of health risks of certain lifestyles; awareness of one's medical coverage; taking an active role in health care decision-making; acquiring professional medical knowledge about prescribed medications and medical tests; avoidance of hospitalization and emergency rooms whenever possible; check hospital and doctor's bills carefully for errors; and avoid defensive medicine. Defensive medicine consists of tests and services aimed at protecting physicians from possible malpractice court suits (Carlson).
Strategies suggested to reduce health care costs were employer contribution methods, competition among health management organizations, managed care and a State mental health parity mandate (Stanton 2002). Current policymakers continue to look for ways to decrease these costs and their current growth levels without reducing access to necessary health care services or unduly burdening providers. These policymakers rethink past strategies or explore new ways, which seem workable. Before deciding, they acquire insights by conducting studies on projected or expected outcomes. These insights investigate strategies, which affect costs and realize savings. A professionally funded research found that certain approaches save money while the rest have mixed results. Employers who contribute to health plans and offer employees to take in three or more health plans can save on premiums. Competition among health management organizations leads to lower premiums. Managed mental health or substance abuse care can also effect lower costs. Flexible spending accounts, cost-sharing and hospital mergers can also cut down on health costs (Stanton).
Public and Private-Sector Subcontract Work Grievances
Subcontracting is a contract, which assigns some of the obligations of a prior contract to another party (the American Heritage Dictionary of the English Language 2006). A study on four industrial organizations identified the most frequent causes or ground of grievances as pay at 17%, working conditions at 16%, performance and permanent job assignments at 16%, discipline at 14%, benefits at 14%, management rights at 7% and discrimination at 6% (Calvasina 2008). When no grievance procedures exist, employees may press grievances as guaranteed by Section 9 of the Taft-Hartley Act (Calvasina).
The grievance procedure consists of four steps (Calvasina 2008). Step 1 consists of an employee reporting a violation of the contract to the union steward who helps him or her write the complaint or grievance. In Step 2, the union representative applies or creates precedents. In Step 3, the grievance is settled. The union is represented by its local negotiating committee while management is represented by its IR or plant manager. And Step 4 consists of arbitration, starting with the choice of a permanent arbitrator. A study found that an average grievance was settled between 10 and 14 days. Settlement may take longer if the bargaining units are large (Calvasina).
A study on the public or government...
Collective Bargaining The labor laws are encouraging unionization. This is because the state Labor Relations Board determined that the RAs have a right to form / join a union and they are entitled to collective bargaining. At the same time, the university is recognizing the union as the legitimate representative for the RAs. These factors are showing how the law is encouraging everyone to unionize. This is from the state making the
Labor Relations & Globalization Argue for or against the use of the "school voucher program." Which do you believe is right? Explain your answer. Both the National Education Association (NEA) and the American Federation of Teachers (AFT) identify school voucher programs as a threat to public employees (Carrell & Heavrin, 2007). Critics say that school vouchers provide families with public funds that can be used for private schools with private agendas. Advocates
The fact that there was need for stiffened penalties shows how the players could have been using hard drugs or human growth hormones to enhance their performance. On the other hand, it seems like most of the players were being punished without substantial evidence which lay on the line their careers hence thought it best to include a neutral panel of experts to clarify matters. Resolving the dispute The dispute was however
1). The steel industry, lead by the United Steel Workers of America (USWA) has also had a substantial force in the promotion of collective bargaining agreements. As well as being a skilled, blue-collar industry, the steel industry shares with automotive industry the common feature that it is deemed integral to the success of the U.S. economy as a whole, thus increasing worker's bargaining power. "Access to steel supply has been deemed
Question Seven The process of administering a collective bargaining unit includes two primary tasks. The first of these is to negotiate the contract that determines the conditions to which both workers and managers have to agree. (This process is repeated whenever the contract has to be renegotiated: How long a contract is in place is determined at the time that each contract is finalized.) The second major function of the union and
Collective Bargaining - Labor relations Topic: The facets job arbitrator. Essay Question: What facets job arbitrator? Cite examples ethical considerations, past practice, fairness, traits responsibilities. What are three reasons an arbitrator's decision may not be the final and binding decision? Provide court examples defending your reasons. Most organizations set their own limits as to what conditions may be subject to arbitration and the scope of final arbitration decisions (Rules of conditionally binding
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