Benefits of a Healthy Workforce Essay Example for Free

Benefits of a Healthy Workforce Essay Organisational health programmes are essential to the survival of companies. Undoubtedly, a healthy workforce would work wonders for any business by reducing absenteeism and turnover, and increasing employee motivation, productivity and revenues. Lowe (2004) writes that hundreds of studies have already documented the direct as well as indirect advantages of â€Å"healthy work environments† to employees in addition to their organisations (p. 7). Indeed, healthy workplaces as well as jobs contribute to the well-being of employees. These benefits may be realized by the whole organisation through lower absenteeism, lower turnover, higher job satisfaction, improved performance on the job, lower rates of accident, in addition to â€Å"reduced health benefit and worker compensation costs (Lowe, p. 7). † Moreover, research has revealed that the largest gains in productivity may be realized by the organisation that changes the entire work environment to make it healthier for all employees (Lowe). Research has also revealed that the impact of poor health is keenly felt in the work environment, so therefore managers require an improved understanding of the dangers of allowing minor symptoms to escalate. Four in ten managers who participated in a recently conducted survey related to workplace health complained that they often become angry with others and feel humorless due to pressure. More than fifty percent of the managers complained of physical pain, at the same time as forty four percent reported experiencing frequent headaches. Moreover, fifty five percent complained of constant tiredness, fifty seven percent complained of insomnia, while twenty percent simply stated that they found it difficult to make decisions because of ill health (Poor Health 2006). Unsurprisingly, these results demand organisations to put effective health programmes in place for all employees. Sick employees are not likely to be highly productive in any case. In the United States, businesses are known to spend at least U. S. $450 billion every year on direct health care. Poor health costs around U. S. $225. 8 billion to American businesses each year through absenteeism as well as productivity losses that are related to the health problems of employees and their families. Hence, insurers as well as employers have started to create a large number of health promotion and prevention programmes that have already started to pay handsome dividends. According to a study, American employers may â€Å"reap the average of [U. S. ] $3. 48 in reduced health care costs and [U. S. ] $5. 82 in lower absenteeism costs for every dollar invested in employee wellness (Toomey 2006, p. 13). † Of course, these benefits can be realized anywhere in the world. In the United Kingdom, three quarters of a million workers are known to take time off work each year due to work-related illnesses (Firman 2006). These illnesses are further known to cost businesses as much as ten percent of their total payroll costs. Indeed, by promoting health in the workplace and preventing illnesses through effective health programmes in the organisation, absenteeism and costs related to the same may be drastically lowered. The money that is saved thus may be used by the organisation to update its equipment; on marketing; as well for the provision of training to employees. Organisations may also be able to increase the number of employees with the cost savings realized through effective health programmes (Jim 2006). Indeed, the benefits of health management programmes in the organisation are aplenty. Healthy employees add value to the organisation. The care shown by employers can boost the morale of the workers. The entire organisation benefits from this, as it becomes more efficient with a healthy and therefore productive workforce. REFERENCES Firman, C. 16. 11. 2006 â€Å"Health Matters. † Motor Transport available at EBSCO Host database. Jim, N. 9. 6. 2006 â€Å"Health and Safety Assessments Cut Costs and Boost Productivity. † Electronics Weekly 2256 available at EBSCO Host database. Lowe, G. S. 2004 â€Å"Healthy Workplace Strategies: Creating Change and Achieving Results. † The Graham Lowe Group available at http://www. grahamlowe. ca/documents/93/Hlthy%20wkpl%20strategies%20report. pdf. Poor Health 2006: â€Å"Poor Health Leads to a Humorless, Angrier Workforce† article in Occupational Health (Jun 2006), 58(6) available at EBSCO Host database. Toomey, D. 18. 12. 2006 â€Å"Wellness and Prevention Programs Generate Healthy Outcomes. † Executive Health & Wellness Guide available at EBSCO Host database. Benefits of a Healthy Workforce. (2016, Jul 29). We have essays on the following topics that may be of interest to you

Finance Essay Example | Topics and Well Written Essays - 1000 words - 2

Finance - Essay Example The business organisations in order to expand on both its sales and revenue paradigms focus on expanding into international territories where they would be able to get hold of newer markets and newer customer segments. Body This process of international expansion is made possible by the business corporations depending on certain premises like conducting trades related to exporting of commodities to foreign nations, through rendering investment in business units created in foreign territories, opening up of new production units in the foreign locations. Further the business corporations can also move to conduct business in international areas through the creation of contracts with support firms to gain both managerial and technical expertise. Finally the business houses can also go for selling intangible assets like trademarks and patent rights through effective licensing schemes or can also expand into foreign territories by working on franchising activities. The method of exporting used by business to probe into international markets helps to gain wider recognition in such areas at reduced cost.Business corporations can focus on gaining control over foreign firms through the rendering of high amount of investments in such. Business organizations by focusing on opening up newer production zones help in generating economies of scale . These external business units can work on getting cheap local labour and also get a better understanding of the foreign markets and business territories. The method of forming external business contracts with firms located in foreign soil helps in outsourcing business expertise to these areas in return for an appropriate fee structure. Through licensing activities the business organisations can also gain more revenues and stake in foreign firms by selling knowledge assets top foreign firms. Finally through the franchising activities the business corporations can gain enhanced access to foreign markets where the cost of investments and risks involved is low (Global Business Strategy, 2001). Conclusion The above context describes the different methods which the business corporations can take to expand its business in international markets. Such activities reflect both cost intensive and market expansion strategies which helps the business corporations to enhance both their revenue and market structures. 2 Discuss the different types of risk that can impact upon an organization trading on an international basis. Introduction The potential business risks which the business organisations face while doing business in international markets are related to the transportation of commodities in international zones, risks pertaining to commercial activities, the large amount of political risks pertaining to the different international zones, other risks relating to the financial and economic conditions and other risks owing to the emergence of adverse business conditions. Body The first risk involved relates to the damag e to the products involved owing to improper transportation which amounts to breakage and spoilage of the goods involved. Again risks arise from the product interface owing to unavailability of the right amount of payment. Product risks are also involved owing to faulty manufacturing practices wherein production of faulty products leads to loss of business by the seller. The segment pertaining to commercial risks reflect that insolvency position of the buying community leads to loss

How would the Foreign Corrupt Practices Act come in toplay in terms of Essay

How would the Foreign Corrupt Practices Act come in toplay in terms of Globalized Ethics - Essay Example ell as organizations residing within the US or in any other country from paying or accepting bribes from foreign nationals in return for governmental favors or in order to expedite a particular process. This provision also applies to foreign firms and nationals residing within the US and who are caught in the act of bribery. The act includes issuers whose securities are registered in the US even of the person or the organization is outside the US territory (Osajda, 2010; Glynn, Kobrin & Naim, n.d; Foreign Corrupt Practices Act). Thus the FCPA has a broad reach both within and outside the US and is striving to bring an end to corruption on the global front. The main focus of the act is the purpose for which the money is being transacted. While the act does not interfere with payments made for undertaking routine governmental duties, it imposes heavy fines on those who indulge in corruption (Foreign Corrupt Practices Act). In order to prohibit such illegal laundering of money in other world countries the US appealed to the Organization of Economic Cooperation and Development (OECD) to issue a recommendation on anti-bribery to its constituent countries. Though the move was initially opposed by the Germans, French and British, it has over the years gained support from these countries who have also adopted suitable measures to combat bribery within their countries. In addition adopting legislative measures to prohibit bribery the OECD has further taken several initiatives to urge countries around the word to pass laws on criminalization of bribery that would help them to achieve zero-tolerance against corruption (Glynn, Kobrin & Naim, n.d). 2. Glynn, P., Kobrin, S. J., & Moises Naim. (n.d). The Globalization of Corruption. Institute for International Economics, Publications. Retrieved Jan 8, 2013, from