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You will prepare and submit a term paper on Operations Management. Your paper should be a minimum of 750 words in length.
You will prepare and submit a term paper on Operations Management. Your paper should be a minimum of 750 words in length. The question of survival of the fittest has made the business organizations to increasingly take resort to the above strategy (Lawler and Worley, 2006, p.154-155). The paper endeavors to further divulge on the issue of gaining a new workforce at the cost of the existing people in a much detailed fashion. Maintenance of Stable Workforce within Organizations in Respect of Changing Markets The fact of changing market conditions impose challenges over the business organizations in regards to maintaining a stable workforce. It is found that to overcome the stress of external changes in the technological and competitive business sphere business organizations have shifted their endeavor to work for the development of the existing people to recruiting readymade skillful and productive workers from outside. Though it is held that retiring workers increases the turnover cost of the concerns yet it helps the concerns to strategize the development process of staffs to meet market demands. In order to compete with the technological and business development of its competitors the business concerns need to take in effective manpower that can be trained quite faster to help the organization counter market challenges. The policy of taking in new recruits and retiring the existing people in regards to market changes and opportunities is referred to as ‘travel light’ and was employed by Kodak when film technology shifted from chemical to digital. Chemical engineers were replaced by digital photography engineers (Lawler and Worley, 2006, p.154-156). Workforce Stability in Organizations based on Financial Position of the Concern It is observed that taking resort to the above discussed ‘travel light’ human resources policy endangers the business organization in regards to increasing the cost of human resources of the concern. The organization needs to both render immediate financial benefits to the retiring employees and also to invest quite enough to recruit and train the new workforce. Further the new workers need to be properly streamlined into the business process which requires enough time leading loss of productivity and thereby rise in business costs. Administrative costs also get highly tuned to such both in relation to rendering advertisements for recruiting and also in terms of generation of insurance, uniform and other costs for the new individuals. Again the new employees on failing to use the machineries in the right manner lead to increase in the cost of erosion of such. The time required for the new employees to be trained properly requires existing employees to perform the overtime work for which they are required to be rightly paid. This increases the cost of operations for the firm (Indicator Protocols Set: EC, 2006, p.7). Organizational Productivity in terms of Skills and Competition and Workforce Stability Organizations round the world in order to better compete with their competitors are found to take resort of newer and productive workforce based on new skill sets.
