The Organizational Cost Of Employees - 963 Words

The organizational cost of employees’ longer work life is placing an economic strain on the organization’s bottom line and by applying some microeconomic theories and applications; an organization will be able to identify some possible programs that will help in the easing of this economic strain. This economic strain on the organization’s bottom line could be eased with more focus being placed on maintaining employee’s fitness and knowledge. This fitness and knowledge program is the key because by applying pricing theory, equilibrium analysis, and economic efficiency theory, a fitness and knowledge program for employees will lower the economic strain on the organization’s bottom line that is felt through new hires and time off due to sickness. First, the economic strain on the organization’s bottom line could ease with the use of supply and demand theory. The supply and demand theory is synonymous with economics and not necessarily thought of being used in the selection process of a program but they truly are one in the same. The supply and demand theory will help in identifying and the development of programs that will benefit both the employee and the employer, as there is a demand by both employees to be more fit and by their employer for their employees to be fit. The employee and the employer’s desire for fitness is based on two different reasons, as a employees desire is to be more fit and healthier with less use of sick time as well as for their appearance. On theShow MoreRelatedOrganizational Structures Have Impacted Organizational Strategies903 Words   |  4 PagesOrganizational structures have changed greatly in the last fifty years. Whereas most organizations were once rigid and centralized, most organizations are now taking advantage of flexible and decentralized structures. 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