Comparative employee relations Essay Example | Topics and Well Written Essays - 2000 words

Comparative employee relations - Essay Example They feel that labor flexibility would negatively impact bargaining power of labor and would only increase firm’s profitability. Thus they seek greater protection from increased bargaining power of employers and job insecurity. They argue that insecurity has been consistently increasing due to liberalization, privatization and globalization. It is now important to study the issue within a proper theoretical framework. What constitutes an inflexible labor market? According to Solow (1998), an inflexible labor market is created â€Å"if the level of unemployment-insurance benefits is too high or their duration is too long, or if there are many restrictions on the freedom of employers to fire and to hire, or if the permissible hours of work are too tightly regulated, or if excessive generous compensation for overtime work is mandated, or if trade unions have too much power to protect incumbent workers against competition and to control the follow of work at the site of production, or perhaps if statutory health and safety regulations are too stringent† [Solow 1998]. This definition is exhaustive enough but still doesn’t touch upon the important relevant issues of generous severance pay, costly legal battles that are important to study since they form an integral part of job security legislations. Such legisla tion regardless of the country where it was form would most likely include provisions that increase the costs connected with firing an employee and regulating hiring process. Job termination is not such an inexpensive process. It includes the costs of notification and the money incurred during non-performing period, compensation, legal costs, legal compensation, etc. Due to all these problems, employers might try to decrease the strength of workers but then comes job security legislation, which provides coverage to employees. Even in good economic times, employers might want to hire new workers but may find themselves at a disadvantage because they

Multivariate Data Analysis Assignment Example | Topics and Well Written Essays - 1500 words

Multivariate Data Analysis - Assignment Example These variables need to be specified prior to setting up a structural model. The process through which these latent variables are decided is known as Confirmatory Factor Analysis (CFA). Thus, the measurement model for a CFA also comes in the form of a multivariate regression equation. However, CFA precedes SME since the exogenous variables included in an SME are determined through CFA. CFA and SME together form a measurement model and help in evaluating the underlying relationship between variables, with least measurement errors. An SEM generally consists of a number of multivariate equations which often leads to errors in recording the inputs. Hence the preferred form of input representation in an SEM should be through a covariance matrix with defined row and column names, so as to avoid confusion and errors in providing inputs. Post-estimation, there remains the task of assessing the fitness of the predicted model. Model fit implies the degree to which the estimated model can resemble the observed population model. Hence, the more that the observed covariance matrix corresponds to the estimated one, the better is the model fitness. Generally, model fit could be of two types – goodness of fit and badness of fit; in the former case, the estimated model is considered to be a good representation as the value of the statistic rises in contrast to what the defining factor should be in case of the badness of fit. Examples of the goodness of fit are GFI, CFI, and TLI and those of badness of fit are RMSEA and SRMR. However, there is no benchmark to evaluate the validity of the model based on the value of goodness of fit of the same. The only way-out would be to assess the goodness of fit by figuring out the same via multiple indices.