Archive for September, 2017

What is the best way to grow jobs and reduce the unemployment rate?

Write my unemployment essayGovernmental intrusion into a natural economic cycle may look like a threat to the economic stability. Capitalism boosts competition between small businesses, and that is how a free market economy works. Theoretically, free markets promote a sustainable growth of 2-3% that can create about 150,000 jobs monthly. But the real market conditions may differ dramatically. Bubbles and busts of the business cycle may create new jobs and swipe them as fast, which is not the growth we need. To assure a greater stability, the government shall regulate business environment with effective fiscal and monetary policies.
The easiest way to create new jobs is to launch expansionary monetary policy. It increases the money supply and reduces taxes allowing consumers to take cheaper credits and businesses to expand. The Federal Reserve can also apply quantitative easing for borrowers and lower the rate on the discount window. These measures are effective only before the recession.
Government spending is a sure way to create new jobs, but not all spending is equally efficient. According to the University of Massachusetts, construction of roads, bridges, and other basic infrastructure can create maximum jobs. Unemployment benefits also help to create a maximum of new jobs. If the unemployed have some money to spend, the economy always wins.
Payroll tax cuts also allow consumers to spend more money. It allows either to reduce prices or to increase wages for employees. Companies can also buy more supplies or hire more workers. Economists argue that a payroll tax cut given to new employees can create almost as many new jobs as the unemployment benefits.

Should employees be allowed more flexible leave time for caring for children and elderly parents?

Write my employee essayTaking care of one’s family is a life routine for many people. As we mature, we get little children and elderly parents who require our time and attention every now and then. Sometimes, they fall ill, and we need to contribute even more of our precious time to the loved ones. But we cannot allow ourselves to abandon our workplace because a family care brings a huge bill. That is why we often have to choose between work and family life if it requires more than cooking a dinner.
Luckily, many people can freelance today or run their own business. But the majority is still tied to a 9-to-5 work schedule with two days off per week and a couple of weeks for vacations. This time is not always enough if we have other people to take care of. If one of them falls ill, we have to be constantly here to nurse them. We may require a week to cope with the seasonal cold; an employer can give us a sickness leave for that. But if we take care of a disabled parent, we have to work from home. For many, it means changing the occupation and losing a part of their regular profit.
A healthcare insurance can provide a temporary sickness leave, but it will not help in case of a serious health condition or disability. In such case, employees shall negotiate the prospect of working from home or going freelance. Sometimes, people need to independently manage their schedule and they shall have a chance to do so.

Should companies promote employees based on seniority, college degrees or evaluations of performance?

Promotion is what many employees expect from their jobs. Climbing up the career ladder is especially interesting to junior professionals who cannot apply for top positions because of the lack of experience. Some knowledge comes with the experience only, and there is no way to gain it at college or university. Years of practical experience in the field make employees particularly valuable to the company and create opportunities for their further promotion. Perhaps, companies shall stick to creating hierarchies basing on the seniority of their employees in the first place.
A college degree combined with some basic skills can be an important condition for companies to hire a junior specialist. A required education and some previous experience make it possible to hire candidates. But companies need something bigger to promote their current employees. Seniority is the first essential factor. The longer employees work in business, the more loyalty and understanding they develop. But being loyal and ambitious is not enough either. Sometimes employees gain promotion with the extraordinary performance. It indicates that they are capable of taking a greater responsibility and completing more complex tasks.
And last, employees are eligible for promotion when they gain more new skills valuable to their company. Getting some extra training or continuing education, people declare that they do not intend to keep working at the current position until they retire. And that is a strong marker of the looming promotion. After all, employers cannot teach their staff all the skills they need, and getting more education outside the business is crucial.

How important is branding for a business?

Write my branding essayIn the current competitive market, companies add value to their products merely with their strong brand names. Apparently, a strong branding is more than creating a nice logo or slogan. It is the way we communicate with customers, partner with other businesses, treat our staff, i.e. the image of everything we do with our business. A positive reputation and a good brand name do not come overnight, but it is worth working on it since the very beginning. Small brands can hardly compel the audience before they have done something significant, but investing in a good brand name will return a hundredfold.
In the broad definition, a brand name is our corporate identity. But everything starts with the graphic representation. A recognizable logo, user-friendly website, and a strong presence in social media will help users pick your brand out of the bunch of competitors. The visual side of the brand help to convey the values of your company. Wise branding also helps businesses to connect with customers emotionally. Yet before making the first purchase, customers may already feel affection to the brand based on its visual design or reputation.
In general, strong branding is about being special in the market. Though supermarket shelves are filled with nearly identical products, brand names make some of them very special. And it is the primary aim of businesses to make the clear difference between themselves and the competitors. Otherwise, the consumer just will not catch the unique quality of the product (if there is any).

How did the NAFTA agreement affect business in the United States?

Write my NAFTA essayPresident Bill Clinton once said in his speech that the North American Free Trade Agreement was the way to create “jobs of tomorrow”. The agreement between the US, Canada, and Mexico was intended to enhance economic integration of the three economies through cutting taxes on exports and imports between them. These tariffs are trade barriers protecting economies from excessive exports that may hamper domestic production. But the protectionist policy is not always good for international partnership. Thus, President Clinton decided that the US joined the agreement to improve relations with its closest neighbors.
More than 20 years after NAFTA came into effect, the treaty is blamed for the damage it caused to blue-collar jobs in the US. Because many jobs were outsourced to Mexico for its cheap workforce, the low-income American workers saw their salaries reduced by 17% at the end of the 1990s. Some workers lost their jobs later because automation and computerization made human force irrelevant. On the one hand, trade between the three countries rose from $290 billion $1trillion by 2016, which is a huge political and economic success. Besides, NAFTA helped the US automobile sector to become competitive on the global scale due to the cross-border supply chains.
Whether positive or negative, NAFTA made the Mexico-US relationships very integrated. In case the agreement is broken, new jobs will be created at a great cost for economic sectors and domestic consumers. People got used to buying cheap exported products for decades. Separating both trade sectors may inflict a bigger fiscal deficit in the US.