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Discussion of the impact on wages/salaries of employer sponsored training compared to investment made by employees in their skills, at Chrysler Detroit Automatvie Plant - Research Paper Example

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Training workers to improve their job performance and enhance productivity constitutes the primary growth strategy for Chrysler Detroit Automotive plant. The human resource management policies of most firms overestimate the relevance off sector-specific skills, but underestimate…
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Discussion of the impact on wages/salaries of employer sponsored training compared to investment made by employees in their skills, at Chrysler Detroit Automatvie Plant
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Extract of sample "Discussion of the impact on wages/salaries of employer sponsored training compared to investment made by employees in their skills, at Chrysler Detroit Automatvie Plant"

Download file to see previous pages The changes in priorities and manufacturing processes have led to the realization that production flexibility could be achieved through skilled workers. Chrysler Detroit Automotive plant intends to enhance the knowledge of its workforce on the technical aspects of production in order to attain maximum effectiveness within the company (Lehto, 2010). The objective of most manufacturing firms is to create high performance organizations characterized by extensive recruitment, formal information sharing, labor participation programs, extensive recruitment, and selection and training procedures.
Chrysler Detroit Automotive plant considers several factors in determining the salaries and wages for its workers. The most common factors include demand for a certain type of labor, demand for the product, easy of substitution and elasticity. Labor is a vital factor of production, and its reward must be fully satisfied to ensure productivity.
The demand for labor is classified as derived demand since it arises from the demand for the product; thus, products with high levels of demand will need high supply of labor during their production (International Labour Office, 2011). The demand for automotive products is currently rising in proportionate to increase in global population. The elasticity of demand for a given type of labor depends on the proportion of total costs accounted for labor costs. Chrysler Detroit Automotive plant is a labor-intensive industry; this implies that labor makes up a significant proportion of the total costs (Lehto, 2010). The automotive industry is competitive since there are companies producing substitute automotive products for the same market. Chrysler Detroit Automotive plant will significantly affect the demand for its products if it passes on the increased labor costs through increased prices for its products. The best way of recovering the ...Download file to see next pagesRead More
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