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The Impact Of Thriving Auto Repair Industry In The Economy |
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Written by Jubilee Research
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Monday, 11 March 2013 15:16 |
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The auto repair and services industry is basically dependent on the automotive industry; thus, it is also influenced by the same market factors and economic conditions that impact the car manufacturing industry as a whole. So with the rebound of auto sales worldwide, following the global financial crisis, supporting industries like the auto repair industry started to thrive. The need for spare car parts and repair services are picking up as more people decide to keep their cars instead of buying new ones. Hence, manufacturers, producers and distributors and sellers of essential car engine parts, tires, steel auto body frames and panels and auto glass windscreen replacement are enjoying lucrative business expansion opportunities. This explains the significant dent that this industry brought to the country’s economy.
 Automotive repair is just one of the many aspects of the car maintenance and service industry. As of today, the demand for repair, tune up and maintenance service for all makes and models of cars has become increasingly complicated, given the fact that more complex and advanced technology are being employed into their design. As a consequence, workers in the industry require training as repair and maintenance jobs now involve a high-degree of specialization. This is explained by the rapid development of technologies that are incorporated in modern car designs, such as electronic actuated car functions like power windows, electronic control unit, self-parking, and navigating car features with global positioning systems. A technician needs to be well trained and knowledgeable about these modern car design aspects to be able to conduct a thorough routine inspection, which is followed by necessary repairs.
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Dealing With The Labors Costs of Your Business |
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Written by Jubilee Research
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Friday, 01 March 2013 12:55 |
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 Labor cost is one major expense that companies have to deal with. Reducing the amount apportioned for this cost will benefit the business in many ways. However, cutting labor cost does not necessarily mean laying off or firing some employees. There are other effective ways to achieve this goal and these are equally beneficial in giving a company the savings it wants to earn.
Many businesses are following the principle of reducing labor cost and not labor. So what methods and strategies do they employ to achieve this? Here are the labor cost-saving ways that companies have effectively employed which others can follow too.
Businesses should review their levels of compensation to determine if these are in line with current standards. A company may be paying one employee more than his or her due, according to the current standard rates. The solution would be to delay or implement minimal raise until that employee’s rate becomes at par with the latest standard. Avoid too many employee turnovers since this can only incur additional cost for the recruitment, selection, employment, and training of new employees. Furthermore, this can also affect the morale of other employee since they will not feel confident that they have a stable job. It could result to poor quality of performance, waste, error, and even fraud.
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Introducing Jubilee Research |
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Jubilee Research is part of the Global and National Economics (GNE) programme at nef (the New Economics Foundation, London). Nef is a radical “think-and-do” tank, founded in 1986 by the people who led the first Other Economic Summit – a fore-runner to the World Social Forum. It is based on the principles of new economics, and was voted Prospect Magazine’s UK Think Tank of the Year in 2002/3. Working on the UK and international economies and the environment, it seeks to promote well-being, rights and environmental sustainability, and to resolve tensions between these objectives. Its GNE team coordinates work on markets and climate change with Jubilee Research’s programme of international financial reform. Building on the work of the hugely successful Jubilee 2000 debt cancellation campaign,[1] Jubilee Research continues to provide up-to-date, accurate research, analyses, news and data on international debt.
More broadly, it works to establish an international financial system which fosters and supports the achievement of economic and social rights, including the eradication of poverty, in a framework of sustainability, equity and self-reliance. Many of the components of such a programme have already been largely developed, and have widespread support in civil society. They include criteria for sustainable levels of debt based on human development needs the Tobin tax and other forms of taxation at the global level alternative ways of preventing and resolving financial crises appropriate use of capital controls democratisation of international financial institutions improvements in the level and quality of aid reform of policy conditionality international insolvency mechanisms (see the Jubilee Framework – outlined in our report “Chapter 9/11? Resolving international debt crises – the Jubilee Framework for international insolvency).
Jubilee Research supports debt and economic justice campaigners worldwide and integrates ecological debts into negotiations around debt cancellation. (Read all on Jubileeplus.org). |
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