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.

Explanation / Answer

1st Alternative:

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

Advantages:

We have an employee in our hand to give the work at any time so we have no need to search for the employees at the time of urgent requirement.
If the work or project is delayed then we can give training to the employees in all sectors. So, every employee learns in all the thing in the company. At any time, we can use the employees for any kind of work in the organization.
We can collect the decisions/advises from all the employee so that the organization implements effective strategies based on their bits of advice.

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:

The employees will be engaged when they had a work in an organization.
The management will do the calculation of their wage based on their total number of hours work is done in an organization.
Conflicts free in between the management and employees.
The company does not pay any extra amount to the employees.

Disadvantages:

Employees wage rate may not change up to some particular period.
If the work is more in the company then the company does not have a right to force the employees to do more work. Because the choice had for an employee not for the company. If the employee had an interest then he/she will do work or else left to home.
If the prices have changed for food items then the employees will do agitation against the company in order to revise the wage rate.

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:

There is no burden for company or factory about the payments to employees.
If the demand has increased for their product then they will take the persons to do the work with certain conditions/probation period.
There is no chance for conflicts in between employees and management.

Disadvantages:

When the company had a huge demand for their product then the employees will not be available at that time instantly.
The employees may demand the amount to factories or company based on their urgent requirement of a workforce.
Some of them not showing the interest in these kinds of temporary works so the companies may face the issues to get the persons or new employees.

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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