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It is no doubt that employees play a vital role in determining the success of any business. StopNShop Today, INC. can benefit most from an employee demographical setup that is most…
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Effects of employee’s demographics Variation in workforce demographics is a key player in the performance of any small business. It is no doubt that employees play a vital role in determining the success of any business. StopNShop Today, INC. can benefit most from an employee demographical setup that is most enthusiastic and energetic. The discussion below explores impact of the business location in different workforce setups.
Case 1. New York City, NY. Average employee age: 30 years old, male/female ratio: 50:50.
This is certainly the most energetic combination a company will need. The workers in this age bracket seem to be starting their careers and most will be optimistic. The sales is expected to rise with hardwork from the group. The company will however have to input a lot into training the young workers. The experience levels of this group is far much below what an older generation can offer. As a result, the company will be forced to use more in terms of benefits.
This category realize the least health problems and need for health benefits will not down the company. It is at this time that the company may introduce appropriate premium benefit services to enhance the future behavior of the employees. Having a balanced male to female ratio will mean the company deal with balanced gender related issues and it will not be weighed down (Kronenfeld, 2010).
Case 2: Suburbia, MO. Average employee age: 40 years old, male/female ratio: 20:80.
The case above comprises of a mixture of experienced and young employees. It is the most productive in terms of experience. However, such a combination is bound to pose challenges to the administration from the initial stages. It is true that there are instances of successful women input to companies. In fact, some researchers argue that women are the best managers of corporate affairs. However, the age bracket identified seem to be a productive age. This is the time the employees will request for more maternal leaves and benefits. This might impact negatively as the business will have to solicit for replacements. In addition, they will have to take care of health benefits of their employees (Kronenfeld, 2010).
Case 3: Deep Caverns, TX. Average employee age: 50 years old, male/female ratio: 70:30.
This is an aging demographic combination. It is full of experience and so good in nurturing new employees. The company will however have to deal with a lot of benefits demands. They have to prepare for retirement packages for their workers. Also, this generation is bound to experience more health related problems leading to more health benefits demands. This is likely to stain the resources (Kronenfeld, 2010).
Some recommendations are also necessary to help the organization handle situations of benefits to her employees. StopNShopToday can introduce the following benefits or adjustments to make the firm better.
1. Fringe benefits- these can translate to employers in form of non-cash rewards. It will be a move to reduce strain on resources. Nelson (1994) argues that this will retain and motivate the employees. Fringe benefits may be offered in terms of tuition for employee’s children, childcare and other perks.
2. I will also love to propose an introduction of a long term life insurance benefit scheme. This can be done by partnering with an insurance company. Such a scheme will see the demand for health and retirement benefits reduce in the future. As a result, the company will benefit from the reduced demands.
3. Finally, the rates of benefits needed revision for efficiency in management. The total wages can be pushed slightly up from 50 to 55%. This is to encourage the employees to be more vibrant and hardworking. Also, the percentages of benefits will be offered according to ages and level of expertise of the employees. In doing so, the company will appropriately spend and carter for costs involved in training the junior and young staff (Nelson, 1994).
References.
Kronenfeld, J. J. (2010). The impact of demographics on health and health care race, ethnicity and other social factors. Bingley, UK: Emerald.
Nelson, B. (1994). 1001 ways to reward employees. New York: Workman Pub. Read More
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