Childcare/eldercare Facilities A Recommendation Report for the Lords International Board of Directors - Research Paper Example

? Childcare/eldercare Facilities A Recommendation Report for the Lords International Board of Directors Prepared by Introduction This report summarizes the findings of the research conducted on Lords international with intent to assess the scope and challenges of offering childcare/eldercare benefits to its employees. It has identified the increasing rate of employees’ absenteeism and lateness as the key factor for proposing childcare/eldercare benefits for employees. The main objective of the report lies with advising the Board of Directors regarding the strategic actions required for meeting the challenges of instigating the new system. Background In the modern business environment, organizations can hardly cut down operational expenses. Instead, the probable alternative for them is to increase the productivity and thereby revenues. However, the productivity and sustainability of a firm depends on how efficiently human elements is deployed in organizational functions. Modern entrepreneurs consider manpower as the richest asset for an organization, and align every employee accordingly in work place. However, absenteeism is one of the major challenges organizations confront with HR management. The study conducted on the Lords International also reveals that absenteeism has been the major issue that impeded the productivity of its HR for the last few years. The results indicated that family obligation is the main cause that intensifies employee absenteeism and scarcity. Many of the talented employees, especially women are forced to stay homes in order to look after their kids and elder people. This is the context why I was deployed to submit a recommendation report to the Lords International’s Board of Directors for their further consideration. Why childcare/eldercare facilities? Exceeding worry about kids makes employees passive in their work. Psychological studies have proved that there will be increased possibility of work related errors when a person works with tensed mind. In recent days, many organizations have lost their exemplary employees due to the absence of childcare/eldercare systems. The case is similar with Lords; for many employees, it is not possible to admit their kids or aged parents in caring institutions due to unavailability of admission, unaffordable fees, or other inconveniences. Many organizational researches report that employees who are affected by family issues have more chance to cause conflicting situations with co-workers (Grace)1. Similarly, many of them tend to be impudent to superiors and it adversely affects the organization’s code of conduct. The parents with younger children give more priority to organizations that offer these facilities when they apply for a job. Hence, if Lords does not provide these facilities, it may loss some of its potential employees. Likewise, employees with aged parents at home also are highly worried about their safety. It may negatively affect their job efficiency or they may even quit their job in future. Why it is relevant to Lords? Investigatory studies have precisely indicated that when a firm provides of childcare/eldercare facilities to its employees, it gets a lot of direct and indirect fiscal benefits. By establishing childcare/eldercare facilities, Lords can empower its human resource as it meets some of the basic requirements of the workers. It will help the organization to ensure employees’ full-fledged service despite their family obligations. Given below are some of the major benefits of the program. 1. Maximum working hours The survey shows that employees who are grappling with children and aged parents are less productive in their work and they spend too much time for dealing with their dependents (Childcare)2. If the Lords International provides childcare/eldercare facilities to its employees, it can effectively utilize the maximum potentials of the employees. Moreover, by launching the new facility, the firm can save several days that are being lapsed because of employees’ absenteeism. 2. Peaceful working ambiance It has been noticed that some employees bring their kids to office since they have no access to childcare facilities at their adjacent towns. Naturally, these employees are forced to spend some time with their toddlers. Subsequently, these kids often distract the workers concentration from associated works. Therefore the establishment of childcare/eldercare vicinity will certainly help the ‘Lords’ to bring forth peaceful worksite. 3. Employee retention From my studies, I could find that retention of talented workers will be the most productive result that can be achieved by offering an effective childcare/eldercare system. Many of the woman workers tend to quit their job due to pregnancy or for childrearing purposes. If they are provided with proper childcare facility they can be retained for long term (employee benefits). 4. Punctuality Childcare/eldercare facilities will aid Lords International to promote work time punctuality in the company which in turn will enhance the economic growth of the company. Presently, the absence of such a system tends some employees to be frequently late for work. The new system will help them to plan their personal obligations as it would fit into the organization’s schedule. 5. Higher Status The proposed facilities will assist the organization to acquire a good stature in the corporate world. It would help the organization to obtain financial assistance in the form of bank loans and large investments. Moreover, new applicants normally give first preference to organizations with childcare/eldercare facilities. Therefore, it will help Lords in its recruitment process also. Economical challenges Although the childcare/eldercare systems would assist the Lord International to increase its overall productivity and thereby profitability, it may also cause some challenges as described below. 1. High initial cost The project planting would cause high initial cost which may not be affordable to Lords International. Relying on bank loans may plunge the organization into indebtedness as the project does not bring any direct revenue. 2. Land acquisition issues The lack of land area is another serious issue associated with establishment of childcare/eldercare facilities. It would be a tough task due to the increasing market prices. In addition, the money used for the acquisition also does not bring any immediate or definite fiscal results. Recommendations The plan in total envisages considerable rate of employee motivation and thereby a growth in the overall productivity of the company. Although at the initial stage new project would raise some financial burden and managerial troubles, in the long run, the facility would enhance employee retention and HR cohesion. In other words, the childcare/elder-care facilities will become an essential part of the competitive advantages of the Lords International. In order to attain the anticipated outcome of the project, Lords may take up the following suggestions; 1. I strongly recommend Lords International Board of Directors to launch childcare/eldercare facilities for its workforce as part of its employee motivation strategy. As the initial step, company has to deploy some experts to identify the appropriate site that would ensure all employees’ easy access and commute. 2. Lords should recruit new individuals whose qualities would par with the anticipated levels of potential. There should be a project manager who would undertake the responsibility of all these procedures until the system is in full swing. 3. Individual appointed should have sufficient knowledge in facilities required for childcare/eldercare areas. Company should verify if all ethical and legal standards regarding the quality of the equipments and fixtures are met. 4. Once the system is in force, the company should verify if the new system increases company’s productivity and thereby profit because the additionally earned profit should cover the costs associated with establishment. It should also ensure that a reasonable amount of profit is deposited in reserves. Estimation for the proposed plan The total amount allotted for the proposed project is $ XXXXXX. Out of the total estimated money, 40% is utilized for Land acquisition, 30% for Building purposes, 10% for employee recruitment and the remaining 20% for acquiring basic equipments required for a childcare/eldercare. Works Cited Childcare. Reference for Business. Encyclopedia of Business, Edition 2. Web. 5 Feb 2011 Grace, Natalie. What causes conflict between employees in an organization? Small Business. Web 5 Feb 2011 Providing On-site Nursery Facilities. Employee benefits.co.uk. 7 Jan 2008. Web 5 Feb 2011 Read More