Staffing & Economics uk
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1.It has been suggested that the use of staffing technology and software is wrong because it dehumanizes the staffing experience, making it nothing but a mechanical process that treat applicants like digital widgets.
It is true most of America companies and health sector have staff shortages; however, staffing technology is not the best solution. I agree with assertion because digital gargets do not have human coordination and experiences, and may not provide the required hospitality at work places. Staffing technology would reduce work places, as machine workstations and few people around may not enjoy their work due to lack of adequate social interaction. Machines mistakes can be very detrimental and requires constant supervision, which will be costly.
2. Determine the factors needed to get individual managers to be more aware of the legal requirements of staffing systems and to take steps to ensure that they themselves engage in legal staffing actions.
Internal and external Factors
Managers must consider the following factors in order to engage in legal staffing activities. Nature of contest for Human Resources: Companies are making changes to retain their excellent employees and offering an excellent working atmosphere and salaries.Legal factors: -There are numerous legal provisions that affect the staffing regulations of an organization. Various policies, which provide limitations to free staffing, are Employment Exchange Act, Child Labor Act, and Mines Act. Socio-culture Factors: - Various socio-culture factors influence the staffing process owing to which certain professions are to be given to definite categories of populace. Size of Organization: -Small organization can never have same staffing practices like a large organization; it may not be capable to attract highly gifted and brilliant staff. Even if the pract 3281462114_Staffing & Economics ices may increase the staffing cost.Organizational Business Plan: -Organizational commerce plan directly influence the staffing function since it determines the kind of personal that may be necessary in future. On the foundation of business plan, rising organization may need additional staff in the future, and declining association will have to thrust out its staff and collapse organization will work for keeping its staff. Staffing strategies may be diverse for various organizations.Organization image also influences the staffing practices. It depends upon amenities to staff for training and development foster policies, working circumstances and compensation enticements. If manager consider theses factors then they will be working within legal staffing actions.
3. In uncertain times, especially when the economy is experiencing a downturn, consumer spending tends to decline and savings rates tend o increase. Explain what could be done to encourage people to spend more so as to increase aggregate demand and invariably, create employment possibilities.
At downturn in economy, organization and businesses must change their strategies to increase demand. This can be done by repackaging and providing essential needs of customer adequately. Using appropriate advertising techniques, and providing incentives for spending. Policies must be changed to suit the current situation at all times.
4. Explain the speed with which money changes hands and analyze the impact on the monetary system.
Discuss the importance of interest rate expectations important in financial markets.
The speed with which cash flows, or changes hands, is one of the most significant factors determining financial health. Economists term this feature the velocity of money. In finance, the yield curve is the ratio between the cost of borrowing or the interest rate and the period to maturity of the liability for a given borrower in a certain currency. This influence the financial market to determine the rates and currency exchange which equal the stability of that currency.
5. Evaluate the Fed’s current policy of “transparency.” Discuss the importance of this policy as it relates to investor expectations.
Current’s changing financial situation requires more transparent Federal preserve monetary guiding principles. Such transparency would assist to establish comprehensible rules and actions, to eliminate needless market uncertainties and instability, and to reduce the costs of anti-inflation financial policy. This would encourage investment (Federal Reserve Board, 1924).
6. Discuss how the economy dictates college job prospects and analyze the relationship between wage rate and college education.
Good economy influences job prospects as it come with various job opportunities; however, poor economy reduces the prospects. The relationship between wage rate and college education are often unfair in most of the nations. Cost of education is high while wage rates are normally a consideration for unskilled and semi skilled individuals.
7. Discuss the different types of human capital investments and identify those that would help with a country’s economy economic recovery and sustainable growth following a recession.
Two familiar types of human capital investment comprise of education and training. Education frequently includes reimbursing staffs or workers for traditional college qualifications or paying for seminars or commerce schools. Education is often utilized to enlarge an employee's technical skills in sections such as finance, accounting, or production. Managers and supervisors working on the occupation with employees, demonstrating to them how to accomplish specific functions, most frequently conduct training.
8. Discuss the pros and cons of immigration policies on the business sector.
Immigration expands population and hence increase market share also it creates a variety of customs thus influencing different dimension of businesses. The policies can have bad effect to business by either draining the business top personnel or influencing unnecessary customs. It influences communication gap, culture exchange, demographics concerns, and definitely economy issues.
9. Using macroeconomic data from the Bureau of Labor Statistics (or similar sources), identify the current state of the economy and the role of fiscal and monetary policy stimuli to manage the country’s economy.
Productivity increased to 1.8 percent in the nonfarm commerce sector in the initial quarter 2011; unit work or labor costs rose 0.7 percent seasonally accustomed annual rates. In manufacturing, yield increased four point two percent and unit labor costs declined 1.4 percent (U.S Bureau of Labor Statistics, 2011).
10. Discuss the relevance and importance of economic data in identifying the state of a country’s economy.
The data give’s the sample of the nation’s economic growth and guided on which actions need to be taken to alter the trend.