...temporary employment such as zero hour contracts have on the wellbeing of employees, it gives a brief definition of what a zero hour contract is, and how they have changed throughout the years eg how they were used in previous years before being called zero hour contracts, why the use of zero hour contracts is on the rise in the UK business market, and investigates the benefits and detriments of these contracts in regards to employees, it will also look at the financial benefits to the employers who use these contracts, and the type of culture that surrounds the employees who are employed on these contracts, It will also investigate what the government plan to do once their consultation is complete to help individuals on these contracts. Introduction This paper provides a brief definition of what a zero hour contract is, an employee perspective on the benefits and detriments of the use of zero hour contracts. The effect on the employee’s wellbeing whilst employed on said contracts, and also what sort of organisational culture surrounds those on zero hour contracts, how this in turn may have an effect on their wellbeing. Why the use of zero hour contracts are on the rise, and so prevalent in the UK market, it will also investigate what the government plan to do once their consultation is complete to help individuals on these contracts. The aim of this research is to establish how zero hour contracts came into existence, why zero hour contracts are used, and what effects...
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...BRIEFING PAPER Number 06553, 10 November 2015 Zero-hours contracts By Doug Pyper and Aliyah Dar Inside: 1. Introduction 2. The prevalence of zero-hours contracts 3. The legal implications of zerohours contracts 4. Zero-hours contracts and jobseeker benefits 5. Coalition Government review of zero-hours contracts 6. Coalition Government consultations 7. Small Business, Enterprise and Employment Act 2015 8. Draft Regulations 9. Opposition proposals prior to the 2015 General Election 10. Scottish Affairs Committee report 11. Comment www.parliament.uk/commons-library | intranet.parliament.uk/commons-library | papers@parliament.uk | @commonslibrary Number 06553, 10 November 2015 Contents Summary 3 1. Introduction 4 2. 2.1 The prevalence of zero-hours contracts Number of people employed Estimates from the Labour Force Survey Estimates from other sources Prevalence by business size and sector Health and social care sector Further and higher education sector Characteristics of people on employed on zero-hours contracts 5 5 5 6 6 7 8 8 2.2 2.3 3. 3.1 The legal implications of zero-hours contracts Zero-hours contracts and employment status The reality of the agreement 10 10 11 4. Zero-hours contracts and jobseeker benefits 13 5. Coalition Government review of zero-hours contracts 14 6. 6.1 6.2 Coalition Government consultations Consultation outcome: banning exclusivity clauses Consultation on banning exclusivity clauses 16 16 17 7. Small Business, Enterprise and...
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...lead to a lower skilled lower paid workforce. In these cases, the bargaining power of the employer becomes increased. In other examples, technological developments can create new jobs and make some industries more capital intensive. This increases the bargaining power of the employees. Political factors can impact on the employment relationship. Countries are now more interdependent than ever due to the reduction of trade barriers. Markets now allow goods, service and capital to integrate, e.g the European union. Companies can more easily become global entities meaning employees may need to travel more, and employers can source personnel from overseas. 1.2. Explain the different types of employment status. Permanent A permanent contract is a position without a pre-determined time limit or unlimited duration. It is...
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...Contract of Employees – A contract of employment is an agreement specifying terms and conditions under which a person consents to perform certain duties as directed and controlled by an employer in return for an agreed upon wage salary. It can be either oral or written, or express and implied. For example, when an individual at Siemens is staring work, they will sign the contract which has the terms and conditions, and will consent to perform certain duties Employees at Siemens have a contract when they join, which outlines the terms and conditions. Every employee is under the obligation to carry assigned duties, or the employer's instructions to the best of his or her abilities. The employer is under the obligation to protect the employee from harm or injury, and make fair compensation for any loss or damage resulting from any job-related accident. Employee and employer rights – Employers and employees have responsibilities to each other; they should also expect their rights to be upheld. These rights and responsibilities relate to areas such as Health and Safety, the provision of Terms and Conditions of Employment, Equal Opportunities and the right to be paid a Minimum Wage. Equal Pay – Every employee who does the same work should be given the same wage as another. For example, if an engineer at Siemens gets a lower wage than another and both work at the same level, then that individual can protest their rights of equal pay. Discrimination – Employees at Siemens...
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...day. To make things simple, suppose he already has leased a lawnmower and a pickup truck. Also, to avoid confusing the output decision with Josh's labor-leisure choice, let us assume that all of the labor is done by two hired workers. Now, Josh has to decide how many hours for which to hire the workers, which in turn will determine how many lawns his company mows. For example, if each worker works 5 hours, then the total hours worked will be 10 and the total number of lawns mowed will be, say, 9. The key factors in Josh's decision will be worker productivity, the wage rate, and the price he can charge for mowing lawns. Suppose that Josh receives $18 for each lawn that his workers mow. Finally, suppose that his workers' lawnmowing productivity is as follows. Total Hours Worked Per Day | Lawns Mowed Per Day | Cost ($11 per hour) | Revenue ($18 per lawn) | 8 | 7 | $88 | $126 | 10 | 9 | $110 | $162 | 12 | 11 | $132 | $198 | 14 | 13 | $154 | $234 | 16 | 14 | $176 | $252 | 18 | 15 | $198 | $270 | 20 | 16 | $220 | $288 | 22 | 16 | $242 | $288 | How many hours should Josh have his employees work? We look at profit, which is revenue minus cost, to try to find a maximum. The maximum profit is at 14 hours of work, mowing 13 lawns, with revenue of $234, cost of $154, and profit of $80. Another way to find the point of maximum profit...
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...Ruger’s three revenue-producing patient services departments using the direct method. Two cost drivers are under consideration: patient services revenue and hours of housekeeping services used. The patient services departments generated $5million in total revenues in 2007, and to support these clinical activities, they used 5,000 hours of housekeeping services. 1) What is the value of cost pool? Sol)A critical part of cost measurement at the subunit level is the assignment or allocation, of indirect costs. Cost allocation is essentially a pricing process within the organization whereby managers allocate the costs of one department to other departments. To assign costs, two important elements must be identified: a cost pool and a cost driver. A cost pool is a grouping of costs that must be allocated. Hence the value of Cost pool for the above question is $100,000. 2) What is the allocation rate if: a. Patient services revenue is used as the cost driver? Sol) Allocation rate = Cost pool/patient services revenue = $ 100,000/$5,000,000 = $0.02 per dollar of patient services revenue. b. Hours of housekeeping services is used as the cost driver? Sol) Allocation rate = Cost pool/hours of housekeeping services = $100,000/5000 = $20 per hour consumed for housekeeping services. 3) What is a cost-volume-profit (CVP) analysis and why is it useful to health services managers? Sol) Profit analysis...
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...30308268 contract is basically an understanding between two or more individuals which will be upheld by a court of law. An agreement may be altogether in composing, totally oral or somewhat composed and mostly oral. It just valids in the event that it meets its circumstances . For a consent to be legitimate it must fulfill the seven components. * offer: An agreement exist where an offer has been acknowledged and good consideration is provided.At law, offer may be depicted as the sign by one individual to another of his ability to go into an agreement with him on specific terms. * Acceptance: In the event that an offer has not been pull back or rejected it might be accepted . Acceptance of offer creats understanding. Rule of acceptance: * Only the offeree may accept the offer. * Acceptance must be final and unqualified. * Acceptance must be communicated to the offeror , unless one of the exceptions applies. * Intension: It is a term used to describe weather the court ought to assume that gatherings to an assention wish it to be enforceable at law. By the utilization of target test the court must translate the parties' intension. * Consideration: Coonsideration is the term utilized as a part of agreement for the association with contracts. it is guarantee make by one parties to another parties during contract. It can be money , objects , facilities etc. There are two types of aggrements: * Deeds ( which don’t require consideration) * Simple contract which...
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...core of skilled workers which are all kept on permanent full time contracts which keeps them motivated and secure within the company so they stay which is beneficial as it means lower levels of having to train to high levels. The peripheral aspect of the strategy allows them to hire when necessary whether its unskilled staff to account for increased demand or highly skilled staff for specialist problems. This is beneficial as it means they don’t have to employ all their staff permanently whilst still allowing them to respond to the flucations in demand for cheap holidays. Kevar Travel Plc has seen a high degree of fluctuation with demand for its product. This is due to seasonal demands, competitive power from rivals and also consumer tastes and fashions regarding holidays over recent years. A strategy that was proposed was to make the workforce more flexible. One way in which they implemented this is the relocation of head office from London to Stoke. They would then go on to create a new workforce plan, which would achieve more flexibility within the workplace, this was done by increasing temporary contracts from 9.2% in 2009-10 to 29.7% 2011-12. Making the company’s workforce strategy more flexible has its advantages and disadvantages. A benefit of a flexible workforce strategy is cutting costs, this could be done by having a majority of your unskilled workforce on zero hour contracts. Zero hour contracts mean that workers only work when needed and agreed by both...
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...7 - 14) Let A = Number of air conditioners to be produced F = Number of large fans to be produced. Department | Air conditioners | Fans | Total number of hours available | Wiring | 3 Hours | 2 Hours | 240 | Drilling | 2 Hours | 1 Hour | 140 | Profit per unit | $ 25 per unit | $ 15 per unit | | Maximum profit P = ($25) * (A) + ($15) * (F) Hours of wiring time used is ≤ 240 ==> 3A + 2F ≤ 240 Hours of drilling time used is ≤ 140 ==> 2A + 1F ≤ 140 Both ( A and F ≥ 0 ) Draw the graph for 3A + 2F = 240 ==> Substitute A as zero we will get point as (0, 120) Substitute F as zero we will get point as ( 80, 0) 2A + 1F = 140 ==> Substitute A as zero we will get point as (0, 140) Substitute F as zero we will get point as (70, 0) The optimal solution is air conditioners A = 40 and large fans F = 60 Maximum Profit P = ($25 * 40) + ($15 * 60) = 1000+900 = $1,900 . OR Solving for A and F from above equations 3A+2F = 240 -----------------------equation1 2A+1F = 140 -----------------------equation2 from equation2 F = 140 - 2A ---------------------equation3 substitute equation3 in equation1 for finding A 3A+2(140-2A) = 240 ==> 3A + 280 - 4A =240 ==> A = 40 Substitute value of A in equation 2 to find F 2(40) + 1F = 140 ==> F = 60 The optimal solution of A is 40 and F is 60 Maximum profit P = ($25 * 40) + ($15 * 60) = 1000+900 = $1,900 . 7 - 18) Let UG = Number of undergraduate courses to offer ...
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...ADM 4351, Winter 2014, Quiz #1 (15 points total) - Solutions Time allowed: 90 minutes Name:___________________________________________ Student i.d.:______________________________________ General Rules: The School's regulations prohibit students leaving the classroom during the first hour and during the last 15 minutes of the test. Which means that you are not allowed to live the classroom until you complete this quiz. Please, place a student i.d. or any photo i.d. in front of you. Pen/pencils, rulers and calculators are allowed. Everything else MUST be stored in the CLOSED backpack placed ON THE FLOOR (NOT on the chair next to you and NOT on the table) DO NOT REMOVE any paper from this test. DO NOT use your own scrap paper. If a sheet of paper gets separated from this exam, please, report it immediately. Having any papers on the desk, chair, or on the floor that is not STAPLED to this booklet at any time constitutes cheating. IMPORTANT: All interest rates are continuously compounded (unless specified otherwise). You must keep at least 5 decimals digits while performing your calculations (unless specified otherwise). Question 1 (1 point): Options that can be exercised only at maturity are called ________ options. A) American B) European C) Asian D) Call E) Put F) Forward Answer: B Question 2 (1 points): An investor owns 1,000 shares of AAA inc. currently worth $35 per share. Assume both call and put options on AAA inc. are traded on the market. How the...
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...CLASSIFICATION OF COSTS: Manufacturing We first classify costs according to the three elements of cost: a) Materials b) Labour c) Expenses Product and Period Costs: We also classify costs as either 1 Product costs: the costs of manufacturing our products; or 2 Period costs: these are the costs other than product costs that are charged to, debited to, or written off to the income statement each period. The classification of Product Costs: Direct costs: Direct costs are generally seen to be variable costs and they are called direct costs because they are directly associated with manufacturing. In turn, the direct costs can include: • Direct materials: plywood, wooden battens, fabric for the seat and the back, nails, screws, glue. • Direct labour: sawyers, drillers, assemblers, painters, polishers, upholsterers • Direct expense: this is a strange cost that many texts don't include; but (International Accounting Standard) IAS 2, for example, includes it. Direct expenses can include the costs of special designs for one batch, or run, of a particular set of tables and/or chairs, the cost of buying or hiring special machinery to make a limited edition of a set of chairs. Total direct costs are collectively known as Prime Costs and we can see that Product Costs are the sum of Prime costs and Overheads. Indirect Costs: Indirect costs are those costs that are incurred in the factory but that cannot...
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...Understanding Organisations and the role of Human Resources An introduction to the organisation **** is a sister business to***** a private family owned company. **** is a recruitment company. There are approximately 15 employees within the company. The recruitment agency offers a bespoke service to unemployed individuals who aren’t British citizens therefore find it very difficult to find work. In most cases many clients speak very little English or none at all. Most our clients are from Polish and Russian backgrounds, although work is also available for all other ethnic backgrounds. ***** also runs another business within the same building in combination with the recruitment agency which is a competition service called *****. ************* works in conjunction with a business called ******which is a catalogue service. Together they came to an agreement whereby Express Gifts will promote the ****** membership to all their customers each time an order is placed over the phone. *********** uses automated devices to enter their 25,000 customers into over 100 competitions per month, every month, up until the customer decides to cancel. *********** is a 12 month subscription with the right to cancel at any time with no cancellation fee. The subscription charges are added onto the customer’s monthly statements issued via the catalogue therefore we do not deal with any finances or billing. All customers need to be over 18 to join. ********has a small customer service...
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...internal factors * Contract of Employment. The Contract of Employment can highly motivate employees by listing rewards, pay, bonus and/or benefits. Also training and development programmes are reacted to positively by employees wishing to progress in the organisation. * Organisation Culture. This concentrates on the behaviour and morals of the employees within an organisation and controls how employees relate to each other and how decisions are made within that organisation. It gives employees a sense of identity. It makes them feel part of the organisation by making them understand what is expected of them. b. Describe the nature of 2 external factors * Economic Climate. If there is a downturn in the economic climate organisations are less likely to take risk in new ventures and therefore are less likely to be recruiting new employees. * General level of education. There may not be people in the vicinity of the organisation with the level of education required. This may mean employees may have to be recruited from further afield. This will probably mean they have further to travel to work, incurring more expense, and also affecting their work/life balance. Of importance to this relationship is the nature of the contract that exists between the organisation and employee a. Explain 3 different types of contract * Zero hours contract. This is a contract where the employer is not obliged to provide the worker with any minimum working hours, and...
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...EMPLOYMENT LAW UPDATE APRIL 2016 Employment law is a fast moving area. This update should be read alongside the other updates that have been written – they are produced every April and October. In this update we summarise the recent changes to law, proposed changes and also important rulings in recent cases. National Living Wage The National Living Wage (NLW) is introduced on 1 April 2016. This will be at the rate of £7.20 per hour for those aged 25 years and over. The National Minimum Wage rates remain unaltered at: Age Rate per hour 21+ £6.70 18-20 £5.30 16-17 £3.87 Apprentice £3.30 Gender Pay Reporting The draft Equality Act (Gender Pay Gap Information) Regulations 2016 have now been published. These Regulations set out the requirements for private and voluntary sector organisations with at least 250 employees in England, Scotland and Wales to report information about the differences in pay between men and women. Mean and median rates of pay for men and women across the workforce will have to be reported. In addition, there will be a requirement to report the number of men and women in each quartile when the employees are ranked according to ascending levels of pay. There will also be a requirement to report on bonuses, but this will be a report of bonus payments over a 12 month period rather than a ‘snapshot’ at 30 April each year. The report will be due on 30 April each year. It is expected that the Regulations will come into...
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...ILM Level 5 Diploma in Management Making a Financial Case Gower College Swansea Student ID: CTT8599 Contents Introduction Page 3 Understanding financial concept used to Page 5 inform management decisions Be able to make a financial case to inform Page 19 a management decision Introduction Business and Partnership Unit The Business and Partnership Unit is client liaison team for of all existing and new partnerships with an ambition to deliver efficiencies and improve services. To evidence transparency of the Councils partnerships by implementing an approved monitoring regime. To provide co-ordination, administration and service delivery role of a number of key functions to both customers and staff within the Department of Culture Tourism Leisure and Sport in the City and County of Swansea. Vision Statement To be a functional section that through monitoring and support ensures that the key partner organisations are fulfilling their obligations in respect of the responsibilities identified with legal agreements. Acting as the partnership hub, the unit aims to ensure that all arrangements and public sector funding remain transparent and that key performance and compliance criteria are monitored and reported. To provide administrative and co-ordination and ensure that key assets in the Sport and Leisure portfolio are managed effectively...
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