Business CW
a) Piece rate is the amount of money paid to the workers/employees depending on the
quantity of products made or each unit of output produced.
b) Joe could give fringe benefits to his employees. Such fringe benefits could be Making
his employees feel valued at work as it would help the factory because many laborers
feel less motivated and there is already a high labor turnover. This would help the
factory as the employees will feel much more motivated to do their jobs then previously
and the labor turnover will reduce to a specific range.
Another fringe benefit Joe could use can be Additional Compensation Packages where
the company could introduce facilities like health insurance which would help the
employees and could make them prone to less danger as in the factory, most of the
manufacturing is done by machines and employees are mostly near them or supervising
them which makes them open to danger. This can help them and can be good for their
safety.
c) There are many reasons employees may want to quit their job. Such could be that
Good and Bad workers will receive the same amount of money, which is not fair to
either. This will demotivate the employees as the good workers who are fast and
efficient at various tasks are no competition to the bad workers, who may lack such
skills to manufacture or produce such output.
Another reason could be that supervisors are needed to ensure workers are doing their
job. This may demotivate the employees as many won’t be comfortable enough to work
in this kind of environment and who prefer to work in peace and alone, rather than being
supervised constantly which can reduce the amount of output which is needed to be
produced before a certain deadline.
d) There are many ways Joe can improve the job satisfaction of his employees. He
could use motivating methods like job rotation where workers get shuffled around the
factory and do specific tasks assigned for a limited amount of time. This could increase
their efficiency in various tasks which would also increase output which again could lead
to employees being praised by other co workers, which could motivate and make them
feel satisfied with the job they’re doing.
Another way Joe could use ways to improve job satisfaction could be promotion where
there is an advancement of an employee in a specific organization. This could help his
company as many workers who are spending most of their day working hard to produce
a high amount of output alongside efficiency could be promoted to a higher level or
position at work which would boost their confidence and make them feel more motivated
to do their work like never before. This again would make them satisfied with the work
they’re doing to provide the best for the company.