When wages rise‚ more workers enter the job market‚ allowing businesses to choose more high-skilled workers. This improves a small-business owner’s opportunity to improve productivity through the use of higher-quality workers not previously available. Some small-business owners might choose to increase wages and decreasing the number of staffers as higher pay can motivate better-skilled workers and increase productivity. A living wage ensures that a worker can pay for basic necessities like housing
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The Federal minimum wage needs to be raised from the current $7.25 an hour to a higher amount because it will help businesses‚ our minimum wage is low by many international standards‚ and the current minimum wage is not the living wage. Raising the minimum wage will help business‚ not hurt them. According to the CEPR from June 2014‚ the 13 states who raised their minimum wage saw faster job growth compared to the national average‚ opposed to fears of a shortage of work if this is enforced that the
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of the minimum wage appears to have had no negative impact upon Employment. Critically examine the possible explanations for this outcome. The minimum wage was implemented and became law on the 1st April 1999 this helped prevent unfair low pay and “levelled the playing field” (http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1074402393) for employers as companies could compete on quality of goods rather than setting a reduced price based on low pay. It applies to most workers and sets
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Theories of Motivation Arousal: * A person’s state of alertness and mental and physical activation. Arousal Theory: * People are motivated to maintain an optimal level of arousal. * The optimal level is different for all of us. Stimulus Motives: * Motives that cause us to increase stimulation. * Appear to be unlearned‚ * Curiosity‚ exploration‚ and play that occur when your arousal is too low. Yerkes-Dodson Law Yerkes-Dodson Law: * Principle that performance on a
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Theories of Motivation Equity theory The Equity theory has its bases on the principle of balance. Everything in life needs to have a balance in order to achieve stability. Everything in excess or in dearth is bad. This principle is applied on people’s behavior in organizations because; their level of motivation is correlated to their perception of equity‚ justice and fairness in the organization. The more equity an employee’s perceived the more motivated they would be to achieve goals and vice
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Differentiate between the 4 major theories on motivation: instincts/evolutionary‚ drive-reduction‚ hierarchy of needs‚ and arousal theory. Discuss their origins‚ and explain why they cannot fully account for human behavior. The instinct/evolutionary theory on motivation states that motivation is the result of biological‚ genetic programming. Thus‚ all beings within a species are programmed for the same motivations. At the heart of this perspective‚ is the motivation to survive - we are biologically
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Assignement #3: Teamwork and Motivation JACK PENDERGAST Prof. Dr. Bob Nolley BUS 520 Feb.24‚ 2014 Objective Motivation is the interior and exterior elements that arouse aspiration and drive in an individual to remain constantly involved as well as dedicated to a job‚ role or subject‚ or to create a determination to achieve an objective (Business Dictionary‚ 2013). The focal key concern of a business ought to be its people. They remain the individuals who support the operation
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Minimum wage law has a negative effect on the economy For years‚ people have constantly relied on government to defend social justice by interfering in the economy. However‚ these policies can have unintended opposing aftermath. One example of a very popular yet improper regulation is the minimum wage law. Minimum wages have a negative effect on the economy‚ because the increase of minimum wage results in a repeating scenario of the need to increase the minimum wage. Higher minimum wages lead to
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Minimum wage in the United States You are beginning a new job‚ you work five 12 hour shifts a week‚ you have bruises and cuts all over‚ you receive minimum wage which is $6.50 an hour. One of your coworkers sits in a chair and watches everyone for six hours five days a week. Your coworker gets paid $12.00 an hour for basically doing nothing. How do you feel? What will you do about it? There are multiple states in the United States that do not have a minimum wage‚ so they do not have to pay their
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Friedman’s argument about minimum wage law is convincing on some parts‚ but not all true for the rest. He first claimed the convincing part which is minimum wage law would increase unemployment rate. This is a proven fact. Because just most recently‚ Seattle started its radical experiment with a $15 an hour minimum wage‚ which resulted in fewer jobs and fewer hours for workers. Then he started to depreciate minimum wage law by saying “it achieves absolutely no positive objective” which is his own
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