Friday, February 14, 2020

EVALUATING MINIMUM WAGE AS A LEGAL PRICE Research Paper - 1

EVALUATING MINIMUM WAGE AS A LEGAL PRICE - Research Paper Example This could sometimes result to negative economic impacts. This paper discusses the issue of evaluating minimum wage as a legal price. In the paper, we present the arguments behind this issue as well as some of its assessments. Increase in unemployment is a factor of minimum wage as a legal price. The rate of increase in unemployment depends with whether the minimum wage set is for skilled laborers or unskilled laborers. According to OECD (2011), job opportunities in the labor market for young people and unskilled workers are reduced by increase in minimum wages. However, the impact is different for the case of skilled workers. Evaluating minimum wages as a legal price could enhance understanding of its affect in both the case of skilled labor and the case of unskilled labor. This assists in making the right decisions on when to increase the wage and how to increase it. Increasing minimum wages could hinder economic development. By resulting to increase in the rate of unemployment, high minimum wage would lower economic development since unemployed people will be having little or no contributions to the economy. However, according to Mankiw (2011), advocates of minimum wage show that it results to increase in the earnings of poor workers. This could lower poverty levels in a country thus resulting to an economic development. Therefore, evaluating minimum wage as a legal price is necessary to determine the positive effects of increasing it as well as its negative effects. A raise in minimum wage as a legal price result to an improved standard of living. Increase in minimum wage increase the amount earned by a worker for doing the same job. However, this can only happen with low-earning jobs since the employee lives within the maximum he can earn. For highly paying job, it can have little or no effect. Moreover, Folsom & Boulware (2009) shows that increasing minimum wage cannot improve the standards of living since the people working at minimum wage are not the

Saturday, February 1, 2020

Recruitment and Selection Research Paper Example | Topics and Well Written Essays - 2500 words

Recruitment and Selection - Research Paper Example In this reflective report, I will examine how the discernment of the theories for interviewing contributes to the success of an interview. This will also serve as a gauge of my understanding of the concepts studied. This exercise started with the modifying the original job description provided. The original job description was edited to give the recruiting company a more defined identity and to inject the personality of the management. This is an important step in "attracting" the right kind of people to answer the job posting. According to Ben Schneider's Attraction-Selection-Attrition Framework, the personality of the organization is the sum total of the personalities of its employees, thus "people are attracted to an organization on the basis of their interests and personality" as mentioned in the Recruitment and Selection Module of Hull University (5). After the modification of the job description, I created a person specification for what I think is the "ideal person" for the job. For the job person specification, I used Fraser's Five-Fold Grading System, referencing the Recruitment and Selection Module of Black's Academy (2). It is in creating the person specification that I understood th e significance of Schneider's theory of "like-attracts-like". The conceptualization of the interview plan and the formulation of the interview questions followed... For the interview questions, I used a combination of questions based on Behavior Description Interviewing, Situation Interviewing and interjected some technical questions as well (Interview Techniques, University of Alberta, 1-3). I chose to use a combination of these questions to check if the person meets the person specification that I created. Reflective Report Looking back on the interview exercise, I think that it went quite well. I remember being confident during the interview and I was also able to put the interviewee or applicant at ease. Personally, I think the preparation step is very important for two reasons; one is that it enabled the applicant to open up and, two, as the interviewer, I was also able to observe the body language of the applicant without the nervousness. This may have worked because of the amount of preparation that I spent creating and revising my interview plant based on the WASP framework from the Online Business Learning Archive. The predominantly open-ended questions that I used gave the applicant an opportunity to share his experiences in detail which in turn helped me see beyond the CV of the applicant. This exercise helped me see the applicant as a person and imagine how he would fit in my organization. During the interview, although I did plan and succeed in making the applicant at ease, I may have over-emphasized my welcome. As my assessor commented, my statement that "we need you, rather than you need us" may have placed my applicant to mindset of having already secured the job. I think this may also have "weakened" my role as the representative of the employer or company. In the interest of having all of my questions answered, I may have hurried the interview and potentially caused the