Please help me complete 4 replies
Response 100 words
Reply 1
According to Dewar, (2024),” Leaders and HR professionals have a significant role in sustaining
employee engagement and motivation. To do this successfully, you need to understand the
current state of recognition, its impact on your workforce, and how best to incentivize our
teams in today’s fast-paced work environment” (Dewar, 2024, p. 77).
When I was working at Ascend Trucking, I remember that it was this one situation in which all
the employees were upset, and I do know I responded to an incentive during a workplace
wellness program that offered a financial bonus for participating in regular health screenings
and fitness activities. The incentive encouraged me to engage in healthier habits, such as
exercising more frequently and attending health check-ups. I think that the benefits of my
response included improved physical health, increased energy levels, and a greater sense of
well-being. The financial bonus provided a tangible reward that motivated me to maintain my
fitness routine. I also enjoyed the social aspect of participating in group activities with
colleagues. The opportunity costs included the time spent on workouts and attending health
screenings, which could have been used for other activities, such as leisure or additional work
projects. There was also the potential for discomfort or inconvenience associated with some
health screenings. The benefits outweighed the costs. The improvements in my health and
energy levels contributed to a more productive work life, and the financial incentives reinforced
my commitment to maintaining a healthier lifestyle. The positive changes made the time and
effort invested worthwhile. And everyone was happy and excited about the changes that were
made, because no one actually thought changes were going to be made. You know, I think that
the employee may need to spend extra hours working on sales rather than engaging in leisure
activities or spending time with family.
According to Hayes, (2024),” A cost-benefit analysis measures the benefits of a decision or
action by subtracting the associated costs. It involves measurable financial metrics such as
revenue earned, or costs saved from pursuing a project. The analysis can also consider
intangible benefits and costs, like employee morale and customer satisfaction. More complex
analysis may include sensitivity analysis, discounting cash flows, and what-if scenarios for
various options. Generally, if the benefits outweigh the costs, the project is favorable for a
company” (Hayes, 2024, p. 78-80).
Reference
Adam Hayes, July 25, 2024, Cost-Benefit Analysis: How It’s Used, Pros and Cons
Kyla Dewar, August 8, 2024, 18 employee incentive programs to engage your team
Reply 2
I have been looking forward to this class. I love business. I love learning about the ends and
outs, the details of cost analysis, and game theory. Until last year, I owned my own transport
business for fourteen years and was very successful at it. I am looking forward to learning what
I could have done to make it better and how much I learned on my own.
While I did own my own transport company, I found it beneficial to lease on to another company
to help secure loads. Occasionally, an incentive would be offered when there was an excess of
loads available. Before I responded to any incentive, I would evaluate the bonus available, and
the requirements needed to meet the incentive. Offering a one-hundred-dollar bonus to move
twenty-five loads in a thirty-day period was not much of an incentive when I would add up the
extra expense of accepting shorter loads that did not pay as much as loads going further
distances. So, if these small incentives were offered, I would decline them and continue to do
longer loads that would benefit me and my business. (Arnold, 2019)
When the company I was leased to finally started to notice that I was not signing on to the
incentives, they did ask as to why I had not done so. I did show them that I maintained
spreadsheets that calculated costs associated with the shorter loads versus the longer loads
and that the small incentives did not have any benefit to take these shorter loads. The company
did raise the incentive to over five hundred dollars, but it still did not meet my standards, but at
least it did seem to attract other drivers to accept the challenge.
In doing my cost analysis, I determined that it was not beneficial to my business to move
twenty-five loads with an incentive of less than one thousand dollars at the end of a thirty-day
period. Shorter loads would generally require a return trip without a load going back to the
terminal. While longer trips would often have a returning load that would have me dropping
within an hours drive of the terminal. Driving empty costs fuel and wear and tear on the vehicle
for no additional income. So after doing cost analysis, it just was not something that I would
sign up for. (Bertram et al., 2016)
References
Arnold, R. (2019). Economics (13th ed.). Cengage Learning.
Bertram, M. Y., Lauer, J. A., De Joncheere, K., Edejer, T., Hutubessy, R., Kieny, M.-P., & Hill, S. R.
(2016). Cost–effectiveness thresholds: pros and cons. Bulletin of the World Health
Organization, 94(12), 925–930.
