...and Medical Leave. According to a 2007 Society of Human Resource Management survey report on Family and Medical Leave Act and Its Impact on Organizations “it may create job disruptions and adverse effects on the workplace in terms of additional costs and a loss of productivity”. Its common that other employees assume the duties while the employee is out on leave creating a burden of additional work. 2. Unemployment Insurance and how it influences staffing. Unemployment Insurance was developed in an effort to prevent unemployment and reduce and eliminate poverty. Some say this system will never work like it was developed. According to a national center for policy analysis Using Staffing Companies to Reduce Unemployment policy report by William B. Conerly “unemployment insurance discourages job search efforts” therefore influences how eager people are to aggressively search for jobs if they continue to receive relief by the federal government. Works Cited Conerly, W. B. (2012). Using Staffing Companies to Reduce Unemployment. 2012: National Center for Policy Analysis. Society of Human Resource Management. (2007). FMLA and Its Impact on Organizations. Alexandria: Society of Human Resource Management. (Society of Human Resource Management,...
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...tRESEARCH ON LAPSE IN LIFE INSURANCE WHAT HAS BEEN DONE AND WHAT NEEDS TO BE DONE? MARTIN ELING MICHAEL KOCHANSKI WORKING PAPERS ON RISK MANAGEMENT AND INSURANCE NO. 126 EDITED BY HATO SCHMEISER CHAIR FOR RISK MANAGEMENT AND INSURANCE DECEMBER 2012 Research on Lapse in Life Insurance—What Has Been Done and What Needs to Be Done? Martin Eling, Michael Kochanski This version: 2012/12/23 _________________________________________________________________________________________ Abstract The intention of this paper is to review research on lapse in life insurance and to outline potential new areas of research in this field. We consider theoretical lapse rate models as well as empirical research on life insurance lapse and provide a classification of these two streams of research. More than 50 theoretical and empirical papers from this important field of research are reviewed. Challenges for lapse rate modeling, lapse risk mitigation techniques, and possible trends in future lapse behavior are discussed. The risks arising from lapse are of high economic importance. As such, lapsation is of interest not only to academics, but is also highly relevant for the industry, regulators, and policymakers. JEL classification: G22; G28 Keywords: Lapse; Surrender; Lapse Modeling; Life Insurance _________________________________________________________________________________________ 1. Introduction Today’s insurance policies allow policyholders to choose among...
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...Working Paper 46 November 2008 138 Union Street, Kingston, ON K7L 3N6 www.queensu.ca/sps Peter Hicksi Social Policy in Canada – Looking Back, Looking Ahead This paper discusses recent policy trends, the changing role of the various actors in the system, international comparisons and a range of other social policy topics. The immediate purpose of the paper is to examine the reasons why social policy analysts need to look into the future, and to explore ways of managing the inevitably large risks associated with such future-looking exercises. The underlying purpose, however, is simply to introduce a range of important Canadian social policy topic to students and others who are interested in social policy, but without much previous background in the areaii. The first part of the paper was taken directly from a 1994 presentationi that was intended to provide outside social policy experts (from Latin America in this case) with an overview of the Canadian social policy landscape, particularly of recent trends and possible future directions, mainly from a federal government perspective. At that time, major reform of social security policies was being discussed and I tried to give our visitors some flavour of the background to that reform, with particular emphasis on the i Peter Hicks was with the department of Human Resources Development Canada at the time of the 1994 paper which forms the basis of Part I of the present paper. The following year he left the Government...
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...first term, President Reagan’s main objective was to address different economic problems through tax cut, decreased nondefense spending, increased defense spending and balanced budget. His policies brought success in stimulating the economy. He was able to improve the lives of the people and certain concerns during those times such as recession, unemployment and inflation. In 1985, while efforts have been made by President Reagan to uplift the economy, the US government was still beset by unbalanced budget due to deficits. Thus in his second term, he focused more in addressing this problem. However, the economic policies he implemented appeared to have created a setback in the country’s budget. In addition to the existing deficits prior to his term, deficits continued to increase. Objectives This paper aims to give an analysis on the cause and effect of the deficit problem Reagan faced in his second term and an analysis of the strategies he implemented in solving it. This paper also offers alternative strategies that would allow Reagan to reduce the deficits and balanced the budget. Analysis The Causes of the Budget Deficits This paper discusses three major cause of the budget deficit during Reagan’s term – tax cut, military spending and recession. The administration’s policy for tax cut was implemented to break the postwar trends to help the people and make an economic turnaround. Tax is the major source of...
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...Designing Compensation Systems and Employee Benefits Compensation 1 Describe the differences between job analysis and job evaluation and how these practices help establish internally consistent job structures. A job analysis is a step-by-step specification of an employment position's requirements, functions, and procedures. Just as a seed cannot blossom into a flower unless the ground is properly prepared, many human resource management (HRM) practices cannot blossom into competitive advantage unless grounded on an adequate job analysis. A job evaluation is the process of analyzing and accessing the various jobs systematically to ascertain their relative worth in an organization. Job is evaluated on the basis of their content and is placed in the order of their importance. To achieve internal consistency, a firm's employees must believe that all jobs are paid what they are "worth." In other words, they must be confident that company pay rates reflect the overall importance of each person's job to the success of the organization. Because some jobs afford a greater opportunity than others to contribute, those holding such jobs should receive greater pay. For instance, most would agree that nurses should be paid more than orderlies because their work is more important; that is, it contributes more to patient care, which is a primary goal of hospitals. Compensation 2 For pay rates...
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... Those four elements are unemployment, expectations, consumer income, and interest rates. The unemployment rate in the United States last week according to Trading Economics was 5.9, where as the highest it has ever been was 10.80, and 7.2 last year this time. (Trading Economics, 2014) Although these numbers sound good that is still a lot of people and every person out of work is hurting the economy. The longer a person is out of work the harder it is for them to find employment. “Unemployment negatively impacts the federal government’s ability to generate income and also tends to reduce economic activity.” (Hamel & Media, 2014) The higher the unemployment rate the more effect it has on aggregate demand and supply. If millions of people are out of work then they are apt to spend less money therefore there is less of a demand for the supply, which in the long run continues the ill effects on the economy. Fiscal Policies are how the government tries to make amends to the economy in times of hardship. The government can lower taxes or offer public work programs to lessen the effect on the unemployed. This also helps the economy, but the government has to take into account the effect this will have on the deficit. Another option is extending unemployment benefits for a longer time. As of December 28, 2013 there were 1.3 million people in the United States cut off from unemployment emergency benefits. (MUDDY WATER MACRO, 2014) Unemployment has been a problem for the...
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...Land Subdivision Keller Graduate School of Management ECON 545: Macroeconomics Table of Content Executive Summary …………………………………………………………..pg. 3 Introduction……………………………………………………………………pg.3-4 Business Cycle………………………………………………………………... pg.4-5 a. GDP Growth Rate……………………………………………..pg.5-6 b. Inflation………………………………….………………..…..pg.6 c. Unemployment………………………………………………..pg.7 Fiscal Policy and Level of Unemployment……………………………………pg.7-9 Monetary Policy and Interest Rates…..………………………………………..pg.10 d. International Trade…………………………………………….pg.11 I. U.S. International Trade Graph………………………..pg.11 e. Demographics…………………………………………………pg.12 Analysis………………………………………………………………………..pg.13 Recommendations and Economic Justification…………....…………………..pg.13 References……………………………………………………………………..pg.14 Executive Summary After more than 30 years of growing corn, Uncle Dan wishes to leave that market and transition over to what he considers a profitable market. He has 100-acre corn farm which he was thinking of subdividing and utilizing to build shops and homes on. Uncle Dan believes that by building these shops and homes on a large piece of land he can make a greater profit renting or selling them. Subdividing land is a long process in itself and can actually be a big investment also gaining equity. When splitting the land into smaller parcels it can create a multitude of lots however prior to this an estimate needs to be...
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...how Social Security and Unemployment Insurance work and explain that. The initial hypothesis was that government insurance programs work as a result of the United States Government forcing citizens to pay into these systems threw taxation. To do start this project I began by reading in the text book used in Macroeconomics at Virginia Statue University and the text book used in all Richard Bland College’s Economics courses. The Initial Hypothesis was based off experience in working and paying into Social Security and speaking with employers on what they pay into these programs on there employees behalf. Knowing that an employee was forced to pay 7.5% of his or her income into Social Security and employers must match a portion of those payments. In return for these payments Americans are told that they will receive payments in the future as retirement income or payments made if the person becomes disabled. In return Americans have a sense of security that the Government will take care of them. (Shipman, 2011) The Unemployment Insurance hypothesis was also based on experience speaking with employers. In different States they pay out different amounts based on the wages they pay there employees. Unemployment insurance pays people a portion of their previous wage if they get laid off or lose their job at no fault of their own. The program is designed to help people get by when they are looking for new employment. The hypothesis was that Unemployment insurance causes people to be less...
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...of the unemployment insurance fund, encourage companies to retain all their employees, and provide financial support for workers to take training courses to upgrade their skills. “The message of the policy is that the government has to address unemployment at the very beginning of the problem,” Yu said. “We have to encourage companies to keep as many employees as possible by offering them financial support.” The MHRSS predicts that the postponement or reduction of social security fees and the expansion of unemployment insurance could help enterprises save nearly 100 billion yuan ($14.5 billion) this year. The essence of the employment promotion policy is that the government will resort to a variety of measures to boost employment, Yu said. First and foremost, it will offer more job opportunities by launching a series of major government-funded projects and boost employment through expanding domestic demand for services and products. At the same time, it will improve related policies, encourage the development of laborintensive service industries, provide support for small and medium-sized companies and companies operating on narrow profit margins, and support and guide the development of the non-public economy. The government will actively help companies to ride out the crisis and instruct them in adopting flexible working hours, in addition to maintaining—instead of raising—the current minimum salary benchmark. It also will reinforce unemployment rate control...
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...discuss a personal microeconomic example with the factors that contributed to the decision. It will also discuss an example of a macroeconomic phenomenon and the results of the decision. Economics for the Global Manager Microeconomics is an analysis of how individuals and firms will make themselves as successful as possible in a world of shortages and the penalty of those individual decisions for markets and the entire economy. It will study how individuals and firms make decisions and how the individual decisions will affect markets (Perloff, 2012). Macroeconomic is an analysis of the performance of the whole economic system. It can forecast the national income by studying the major economic factors that have predictable patterns or trends and the influence they have on one another. The factors used are prices, balance of payment positions, gross national product, and employment / unemployment (Macroeconomics, 2013). The difference between microeconomics and macroeconomics is clear. Microeconomics is the study of the individuals / firms markets. It looks at the allocations of resources and the prices of goods. Macroeconomics is a study of the whole economic system. It looks at gross national product and how it affects unemployment. A microeconomic phenomenon example is taking a looks at a specific company to determine how they can maximize the production to lower the prices within their company and be competitive. If a company is selling an increase amount of gum, they...
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...The Economy, Monetary Policy, and Monopolies A Robinson Dr Ralph Cann-Tamakloe Principles of Economics 100 May 26, 2012 Analyze the current economic situation in the U.S. as compared to five (5) years ago. Include interest rates, inflation, and unemployment in your analysis. The United States is the most technologically advance country in the world, not to mention the largest. Everywhere you look or read the headlines are saying that the U.S. economy is in a great shape. Is that really the case? There has been a spike in the number of houses being sold; interest rates have hit rock bottom, and a record weakening in the federal budget balance. With all those things taking place within our economy, it is still not where it should be nor is it close to where it needs to be. The unemployment rate in April of 2007 was 4.5% compared to April of 2012 at an 8.1%. Unemployment rates are high compared to five years ago, but are low compared to 2 years ago. The country has been through a lot trying to build its economic status back to where it was years ago. The unemployment rate is the number of people actively looking for a job. Unemployment is an indicator of how other factors of the economy are doing. For instance, if it looks like the economy is attenuation, and the unemployment rate is increasing, then you know businesses aren’t confident enough to start hiring again, and vice versa. When setting...
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...varied across nations, but in most countries it started in 1930 and lasted until the late 1930s or middle 1940s.1 This depression was the longest, deepest, and most widespread depression of the 20th century. As we all known, the Great Depression began at September 4, 1929, with the sudden fall in stock prices, and rapidly became worldwide news with the stock market crash of October 29, 1929 (known as Black Tuesday). It started from USA, and quickly sweep European countries as well as all over the world. This crisis had huge impact on all the people across the world, various industries, economic fields, and all the social life. Personal income, tax revenue, profits and prices dropped, while international trade plunged by more than 50%. Unemployment in the U.S. rose to 25%, and in some countries rose as high as 33 %2. The Features of the Great Depression Compared with all the crisis happened before and after, this crisis gets some distinct features: firstly, the scope of the influence of the great depression is so wide. At that time, USA was the most powerful country in the world as well as the biggest creditor country. The American finance had close connection with all the capitalist countries and the international business market. The crisis spread from American to the vital capitalist countries Germany, Japan, Britain and France. The capitalist countries wanted to transfer the crisis to other countries, so the depression affected all the colonies in a wide range, semi-colonies...
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...Human Development Research Paper 2010/30 Dealing with employment risk: Policy options for emerging markets Simon Commander United Nations Development Programme Human Development Reports Research Paper November 2010 Human Development Research Paper 2010/30 Dealing with employment risk: Policy options for emerging markets Simon Commander United Nations Development Programme Human Development Reports Research Paper 2010/30 November 2010 Dealing with employment risk: Policy options for emerging markets1 Simon Commander Simon Commander is Managing Partner at the EBRD, IE Business School and Altura Advisers. Email: scommander@alturaadvisers.com Comments should be addressed by email to the author(s). 1 Thanks to Jeni Klugman for discussion and comments and to Ginette Azcona for help with data. Abstract The paper looks at the experience of advanced economies in dealing with employment volatility. It examines in detail the impact of labour market institutions on equilibrium unemployment and the p ossible le ssons f or e merging ma rket e conomies tr ying to d esign p olicy f or d ealing w ith unemployment and a wider, growing demand for social protection from their citizens. Part of the paper concentrates on t he t ransition e conomies whose i nstitutional c ontext m ay b e r elevant t o other emerging ma rkets. S ome leading principles in policy d esign a re elaborated th at take into account s ome o f t he co mmon f eatures o f em erging m arkets, n...
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...Jason Coleman 06-11-12 New Orleans Recommendation Paper The Case For, or Against, New Orleans Management Decision Models B6025 Dr. Usha Dasari We will look at many factors in our case for rebuilding or not rebuilding New Orleans. This recommendation will be reviewed by state and local governments for their decision. We will perform a Cost-Benefit Analysis which will represent the residents of New Orleans, the residents of the surrounding floods plains, the Mayor of New Orleans, and the federal government represented by FEMA (Federal Emergency Management Agency) and the taxpayers. We will look at scenario models, risk management, and decision trees to support our decisions and analysis. This natural disaster took an enormous toll on the residents of New Orleans. Over 1200 lives were lost and countless injuries were suffered. The loss of revenue from the shutdown of businesses, loss of homes and possessions of residents caused much pain and human suffering. We will conclude with an executive summary which will summarize our decision for or against rebuilding of New Orleans. Prior to the hurricane New Orleans was a tourism magnet. The city offered many restaurants, festivals, and great weather. These positives made tourism a thriving market. Other boons for the economy of New Orleans were the mining, transportation, and warehousing along its waterways. More products came through this port than any other port in the world. There are many colleges in the area than add...
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...ECON545: Project 2—Macroeconomic Analysis Situation D Brian Banks 8/24/2014 Uncle Dan has a 100-acre corn farm. After 30 years of growing corn, he wishes to leave that commodity’s market and enter a more profitable market instead. He is thinking of subdividing his land and building homes and shops. He reckons he could make a good profit by selling the homes and renting the shops. Uncle Dan has several costs and risk factors to consider in making the switch. The best way to approach this scenario requires researching the economy in terms of GDP growth rate, interest rates, level of unemployment, the business cycle, fiscal policy, monetary policy, international trade, and demographics from a macroeconomics perspective. The macroeconomic factors to be considered from the view of the organization are: GDP growth rate, Business cycle, Fiscal policy and level of unemployment, monetary policy and interest rates, International trade, and Demographics. Business Cycles, Unemployment, Inflation, International - Comparative Advantage, Exchange Rates, Trade, Monetary Policy and Interest Rates, and Fiscal Policy and Unemployment are the variables that are critical in addressing the issue. The United States has one of the most diversified and most technologically advanced economies in the world. Finance, insurance, real estate, rental, leasing, health care, social assistance, professional, business and educational services...
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