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Thursday 3 January 2013

Workplace Economics – Fine Tuning and Requirements


1. Fine Tuning of workplace economics
In the initial years of employment, an employee is satisfied with monetary part of his compensation. Monetary incentives appeal to him. Fringe benefits like certain allowances –Annuity schemes, Medical facilities, Medical Insurance ,ESOPs  and such other benefits satisfy him .All these are tangible benefits ,most of which are taken care of by legislative measures. (Carey,1967).

As time passes on the employee realizes that there is something more that he needs to get some satisfaction out of his job apart from mere monetary gains. (Daft& Noe,2001)  He yearns for respect, identity, recognition, creativity and social context. While the tangible salary and other prerequisites and fringe benefits provide him financial security, his psychological yearnings require more than mere monetary benefits to satisfy him and motivate him. (Daft& Noe, 2001). The sole platform for providing fodder to this psychological yearning is workplace. We now examine what measures need to be taken for bettering the workforce environment (Daft& Noe, 2001).

                        2. Workplace Economics –Requirements
2.1. Attitudinal Change
The first prerequisite for bettering workplace environment is a change in the attitude of managerial personnel. They are hitherto accustomed to look down upon the workers as tools of  production which can be used as and when required and thrown out when not required. They profess once and again that they realized the importance of HR policies but faltered to deceive whenever the occasion arose.( Schultz & Schultz,2002) The merciless retrenchment of employees in software and manufacturing industries even on a small indication of a business drop exposed their true colors as opportunists. Such opportunistic behaviour doesn’t endear them to the workers and instill confidence. What is needed is a true change in their attitude towards the workers. (Spector,2000)

2.2. Recreational Facilities
           “All work and no play make Jack a dull boy” goes the saying. Employees should be provided proper recreational facilities by way of libraries, indoor games and outdoor games to refresh themselves. This provision not only enhances their productivity but also enriches the camaraderie among the workers which in turn contributes to team work. The recreational facilities also make them fitter physically to respond ably to the demands of physical work in the organization(Turner, 1933).

2.3. Communication
This is the most important contributor to workplace environment. One way communication hitherto prevalent in industry should be replaced by two-way communication in a way that it becomes a tool for understanding fully what is expected of them. (Turner, 1933).

 There should not be any ego or apprehension from any side in communication and this leads to transparency, which is a new virtue among the corporates. A lot has been discussed about communication in earlier paragraphs. Hence the same is not repeated here. (Whitehead,1938).

2.4. Treatment of women and sexual harassment
This is another very important aspect which should be taken care of for bettering the work place environment. As the industrial activity intensified all over the world, women became an integral part of our work force. Even though we shout hoarse that women and men do not really have equal chances of exhibiting their talents. However talented they are women are bound by family and children and lag behind men. Policies which enable women with family care responsibilities are lacking in work places. (Moorhead& Griffin, 2004) So many women however talented they are leaving their jobs for family and children. Facilities should be provided to retain such women(Moorhead& Griffin, 2004).

 Sexual harassment in workplaces is another malady plaguing the workplace. Measures should be taken to eradicate it and provide a congenial atmosphere for women to work.

2.5. Improving Soft Skills
Soft Skills refer to a group of personal qualities like communication ability, personal habits, language skills, friendliness and optimism that influences relations with other people. Soft Skills are the new requirements of the present day industry and business .Soft skills complement the hard skills like proficiency in work and make a person a successful and very useful employee for the organization(Wilson,1999).

While a very few people are born with soft skills, these skills are usually cultivable. Workplace economics has a very important place for soft skills like socializing, team work, participating in a team in cultural activities, decision making, problem-solving, active listening, interacting positively with others. Efforts should be made to inculcate these soft skills among employees so that workplace will be an enriching ground for them to extract mental and social happiness (Wilson, 1999).
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