Suppose that the administration hires you to research three alternatives for pay

Question

Suppose that the administration hires you to research three alternatives for pay. Alternative #1 guarantees a base salary of #20,000 annually for each adult regardless of whether they work or not. Alternative #2 sets a minimum wage of $20 per hour for all jobs worked. Alternative #3 allows pay to be determined by supply and demand. Based on what you have learned in class and at least two scholarly articles on the topic that are no more than five years old, write a 3-4 page paper in APA format examining the advantages and disadvantages of the three plans and predict the impact of each over the next 10 years. Then select the one you think is the better alternative and explain why. This assignment must be your own work and all sources used must be clearly referenced and cited (including the use of quotation marks for direct quotes). Do not repeat the questions in the work you submit.

Explanation / Answer

1st Alternative:

The base salary of $20,000 needs to pay for all the employees whether they work OR not.

Advantages:

Disadvantages:

1. Unnecessarily pay the amount to employees.

2. If we kept the employees idle then they become lazy.

3. The conflicts will be happened in between the employees and company because insecurity feeling happened on their job in employees.

4. If they kept in idle then their knowledge and innovative skills will be disappeared.

2nd Alternative:

The minimum wages are given to the workmen or employees. As per the mentioned in the question, the company offering $20 per hour to the employee so what are the advantages and disadvantages?

Let’s see.

Advantages:

Disadvantages:

3rd Alternative:

This is one of the peculiar alternative or payment method because they will take the employees based on the demand and supply of the product in the market.

Advantages:

Disadvantages:

As per my analysis, The second alternative is the best one comparing with the rest of the alternatives. The company can pay the amount on an hourly basis and employees also feel happy based on the work at an hourly rate. If the employee wants to work more then he will do or else he left the work on that particular day. So, there are fewer chances of conflict happen in between company and employees.

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