Question
let us discuss this below In chapter 4 Baye talked about the application of the indifference curve showing us via graph how two products can
let us discuss this below In chapter 4 Baye talked about the application of the indifference curve showing us via graph how two products can have different demands based on the unity provided. Or in this case with leisure time and income. There are many ways managers can influence employees to create more output within the organization that does not revolve around monetary aspects. One way organizations can create a larger output within employees and the organization is by creating a work environment that is healthy and promotes work and drives people to be more active. Doing this can create a company atmosphere that is excited to work and loves coming into the office. Organizations can do this by hiring employees and managers that care about a healthy work environment and promoting a positive safe space. This builds trust aspect with employees and adds a positive outlook on going into the office every day. The Tennessee Department of Health wrote "Workers that feel valued, safe, and healthy are more likely to be more productive and committed to their work. Healthy workplaces can reduce insurance costs and absenteeism. Healthy workplaces can increase worker productivity, satisfaction, and retention" ("Healthy workplaces," n.d.). This is proof that a healthy environment can cause more employees to produce or have a higher output.
Other aspects that companies promote for employees to produce larger outputs are days off company vacations and special parties. for example, companies can give bonuses without giving them monetarily. Extra sick days are a great way to give bonuses without giving the employee money. Recently in the state of Colorado, the government passed a bill saying employees who work in colorado can take Colorado-paid sick leave. This bill lets families have 48 hours of sick leave that does not take away from their sick days given by the organization. If organizations have extra sick days instead of bonuses this could increase the output employees give due to the fact they won't be worried about taking time off or not making enough money to feed their families.
What does your current job do that makes the workplace effective and healthy? Is there anything you would add to your current job to make output even better?
Baye,M.R., & Prince,J. (2021). Managerial economics and business strategy.
Colorado paid sick leave law: FAQ | Small business organization. (n.d.). Good Business Colorado. https://goodbusinesscolorado.org/co-paid-sick-days?gclid=Cj0KCQjw8e-gBhD0ARIsAJiDsaU9oXacgn_ueEQgWmmPMr5239LtRZLh5m967hXDy1KwfZ-799w4RzgaAmecEALw_wcBLinks to an external site.
Healthy workplaces. (n.d.). Tennessee State Government - TN.gov. https://www.tn.gov/health/cedep/environmental/healthy-places/healthy-places/healthy-buildings/hb/healthy-workplaces.htmlLinks to an external site.
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