Skilled Labour Available Impact on the Budget Preparation Essay
There are necessary to revise the production budget to adjust to the different between actual labour hours and the labour budget - Skilled Labour Available Impact on the Budget Preparation Essay introduction. Once the production budget is revised then all the budgets are need to be revised as well. Once the labour hours was not enough to meet the production level in budgeting, there force to rearrange or revised the production quantity to amend how much is the cost for other material or resources need to decrease for the situation as a balance for the budget.
When there cannot meet the target profit depends on the insufficient of labour hour, consideration on reducing the closing stock would be needed. When there are insufficient in labour hour will fail to produce fulfill the market demand, they need to decreasing the closing stock so that there have more stand by product to sell to the market. Based on the limiting factor which is the labour hours that affecting the production level, directly it is affected the sales quantity since the production quantity would be decreasing.
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They need to decide which brand either canon or casio have to reduce the sales when the closing stock quantity is become zero because then will follow by the shortage of product in the market when zero stock investment. The decision making should be depends on the profitablity of each brand while they still need to watch out for the profit of the product. Reduce labour hour per unit Improvement for the labour efficiency are needed to decrease the labour hour per unit. There had several ways to meet the target, invested in new equipment such as machinery would be a good way.
More machine in works can directly reduce the use of labour while still could meet the high productivity. The technology equipment can reduce the time and human resources for the working process and meet the higher productivity, therefore investment on this new technology are necessary to reduce labour hour per unit. Beside that, labour motivation is such a good way to enhance the productivity of the labour as well. Incentive usually can be the tangible reward that are given to who perform best in the working performance. Profit-sharing plans or bonuses that may increase the annual pay of a worker is such a good way in employee motivation.
Provide career coaching can be a good way to motivate employee. Given the on-site coaching to help the workers achieve a higher level of professional,this can help the employees to learn how to solve the barriers which faces on their personal or professional working place. Motivate worker by match the task to their talent is important. Employee motivation could be improve by enhancing their confidence. Assign them personality with task that they more expert or good at, they will enjoying the job while given the better working presentation.
The job satisfaction is very important which could increasing by the job enrichment. Good job design is job enrichment, it can let the employer work under a more stimulating and interesting situation to add some challenge when setting the task specifically to worker’s daily routine. This could let the workers more control over their work since the deepness of the work had increase. Therefore, there had need to design the jobs that motivate. Provide the on-job-training and in house career development could enhance the professional skill of the workers.
Company need to encourage workers to attend seminars, workshop and adult education classes to let the workers feel that employer are investing on them and this would directly improved their job performance. Beside increasing the employee motivation, employee training brings benefits include enhancing the job satisfaction and morale of the workers, improving the efficiency of the workers during the working processes, effecting the profitability, raising the capacity to adopt the new technologies and methods, enlarge the innovation in strategies and products as well as reducing the employees turnover.
Increase labour hour available One of the ways to increase the labour hour is require the overtime working from the workers. It is the most direct way to improve the labour hour insufficient problem. To encourage the workers to work for the overtime, higher pay is needed to be as entice. More benefit could be added to attract more people to work overtime such as higher paid, reward, holidays, medical care, and so on. Besides that, recruiting more skilled labour could solve this problem as well.
Recruit the additional skilled worker can replace all the space to sufficient the need of labour hour to maintain the production budget. However, there is extra spending for the additional employee which will raise up the production cost and lower the profit. Another way is give training to unskilled labour to convert them into skilled labour to sufficient the need but they may need longer period to train them to be professional because it is not easy and there are so many things have to learn.