Mellorando
Banned
The demand for labor is an economics principle derived from the demand for a firm's output. That is, if demand for a firm's output increases, the firm will demand more labor, thus hiring more staff. ... Businesses demanding labor from workers will pay for their time and skills. Factors that can shift the demand curve for labor include: a change in the quantity demanded of the product that the labor produces; a change in the production process that uses more or less labor; and a change in government policy that affects the quantity of labor that firms wish to hire at a given wage.
Thus Nigeria Labor Laws are inhibited by problems such as: gross violation of Nigeria labor laws by employers, politicization and marginalization of Labor Unions, corrupt practices on the part of administering authorities, inadequate infrastructure and manpower, cumbersome and obsolete labor laws and inappropriate
Below are three ways to fix labour problems in Nigeria:
1: Increase wages
The first solution is to increase wages. Companies like McDonalds, Under Armor and Bank of America have all announced wage increases to attract workers ”“ moves that have been well received by both employees and the public at large. In principle, it is easy to throw money at the problem, but in practice, it may not be possible. Higher wages cut into profits so you will need to make a strong case that wage increases will pay for themselves, and then some. Another approach might be to examine the risk of not increasing wages by equating labor shortages to decreased customer service and, in turn, reduced sales. No matter what, you face an uphill battle to get the executive support needed to raise pay.
2: Increase hours
The second option is to ask your existing employees to work more hours. Giving more hours to your current workforce reduces the need to hire new workers, along with the training and onboarding expenses associated with hiring.
3: Increase productivity
The third solution is to increase the productivity of your existing workforce. Increasing the output of workers already on staff reduces the need for more workers and the need for overtime.
There are two paths to improving productivity:
* Productivity gains can come from big ideas like eliminating tasks, reducing the frequency with which certain tasks are performed, or redesigning tasks entirely. The bigger the idea, the more time it may take to implement. So, recognize that this path may not have an immediate impact on your labor shortage but should have a large, sustainable impact when implemented.
* Big gains can come from small changes. Unlike the big ideas mentioned in the last point, small changes can often be implemented quickly. To find such opportunities, look for tasks that are performed frequently. Eliminating just one step in a frequently performed task or moving a piece of equipment closer to where the task is performed to reduce travel time can have an outsized impact on productivity. Saving a few seconds may not seem like much but when that savings happens thousands of times a day in each store across your entire portfolio, it begins to add up quite quickly.
Thus Nigeria Labor Laws are inhibited by problems such as: gross violation of Nigeria labor laws by employers, politicization and marginalization of Labor Unions, corrupt practices on the part of administering authorities, inadequate infrastructure and manpower, cumbersome and obsolete labor laws and inappropriate
Below are three ways to fix labour problems in Nigeria:
1: Increase wages
The first solution is to increase wages. Companies like McDonalds, Under Armor and Bank of America have all announced wage increases to attract workers ”“ moves that have been well received by both employees and the public at large. In principle, it is easy to throw money at the problem, but in practice, it may not be possible. Higher wages cut into profits so you will need to make a strong case that wage increases will pay for themselves, and then some. Another approach might be to examine the risk of not increasing wages by equating labor shortages to decreased customer service and, in turn, reduced sales. No matter what, you face an uphill battle to get the executive support needed to raise pay.
2: Increase hours
The second option is to ask your existing employees to work more hours. Giving more hours to your current workforce reduces the need to hire new workers, along with the training and onboarding expenses associated with hiring.
3: Increase productivity
The third solution is to increase the productivity of your existing workforce. Increasing the output of workers already on staff reduces the need for more workers and the need for overtime.
There are two paths to improving productivity:
* Productivity gains can come from big ideas like eliminating tasks, reducing the frequency with which certain tasks are performed, or redesigning tasks entirely. The bigger the idea, the more time it may take to implement. So, recognize that this path may not have an immediate impact on your labor shortage but should have a large, sustainable impact when implemented.
* Big gains can come from small changes. Unlike the big ideas mentioned in the last point, small changes can often be implemented quickly. To find such opportunities, look for tasks that are performed frequently. Eliminating just one step in a frequently performed task or moving a piece of equipment closer to where the task is performed to reduce travel time can have an outsized impact on productivity. Saving a few seconds may not seem like much but when that savings happens thousands of times a day in each store across your entire portfolio, it begins to add up quite quickly.
