Sajjad1994Hi Sajjad, would appreciate if you could get the following essay graded.
Thanks
The following is part of a business plan being discussed at a board meeting of the Perks Company.
“It is no longer cost-effective for the Perks Company to continue offering its employees a generous package of benefits and incentives year after year. In periods when national unemployment rates are low, Perks may need to offer such a package in order to attract and keep good employees, but since national unemployment rates are now high, Perks does not need to offer the same benefits and incentives. The money thus saved could be better used to replace the existing plant machinery with more technologically sophisticated equipment, or even to build an additional plant.”
As part of a business plan being discussed at the board meeting of Perks Company, it is suggested that, Perks should cease offering generous package of benefits and incentives to its employees. The reasoning behind such suggestion is that, Perks needs generous packages to attract and retain quality talent when unemployment rates are low. However, since the current rates of unemployment are high, it’s not cost effective to offer generous packages to employees, instead the money saved from such packages should be utilised for buying more sophisticated machinery or even for building a new plant. Stated in this way, the argument manipulates facts and conveys a distorted view of the situation. The argument relies on assumptions, for which no evidence is provided. The argument is rather unconvincing, given the obvious flaws.
Firstly, the argument states that it is not financially viable to continue to offer generous package of benefits and incentives to employees; however, no relevant data is shared to support this line of reasoning. Unless specific figures related to the cost of the package are made available, thereby enabling a thorough analysis of returns against the cost, it is not possible to validate the claims of the argument.
Additionally, the argument suggests that, Perks should rescind offering a generous package to employees because the unemployment rates are currently high. If such suggestion is implemented, then it might negatively impact the image of the company in the job market. Perks would come across as an opportunist organisation and this move will further hamper the current and prospective employees trust towards the organisation. Moreover, the argument provides no data, which enables to identify the category of employees for whom the unemployment rates are high. For instance, majority of Perks employees could belong to a highly talented cohort for whom the high rates of unemployment are not even applicable. Hence, if the generous package is removed, it might cost the company with high rate of attrition.
Lastly, the argument suggests a plan of utilizing the money saved from benefits and incentives package for purchasing technologically advanced machines or even for building a new plant. This statement is a stretch and not substantiated in any way. The argument provides no information about tentative cost savings and how much capital would be needed to buy new machinery or building a new plant. It could be possible that the cost savings are minuscule as compared to the amount of capital required for enhancing the plant and machinery. Hence, a detailed report would be needed to do a feasibility analysis in order to consider the suggested plan.
Thus, the argument has several glaring logical discrepancies. It started on a sound premise but lacked necessary date to bolster its reasoning. If the argument had drawn upon the imperative data and analyses as suggested above and thereby plugged holes in the reasoning, it would have been far sounder on the whole.