Taking the case of an insurance company undergoing major reconstruction because of minimal profit, which has been the case for almost three years consecutively. To solve this problem the company resolves to do restructuring that involved laying-off some of the workers. Due to the loss that had been incurred throughout the three years, the workers only get ten percent increment over their one month salary as a retirement fund. This does not go well with the workers who then decide to seek help from the law to get compensation as their contracts stated that pension agreement was for workers who have been with the company for more than ten years. Apparently the company decides to lay-off only these workers. This is because their salaries are way too high and the company is not at a position to pay such huge salaries. Resultantly, the company is faced with several law suits, and the workers having figured out that such an unlawful lay off could result in an enormous compensation turn down any offer of reinstatement. As a new manager to the company, in a bid to get the company out of this situation and get it back on its feet, the first step towards this would be to find a way to bring the old workers back to the company. To do this, I would plan to offer them their jobs back with an assurance of five percent increment in their pension and a binding contract to ensure the permanency of service. The catch here though would be that the possibility of this contract would only be once the company gets back on its feet. That way all workers would focus on ensuring the company is at its best to increase the productivity level. To further increase the workers productivity level, I would provide team building activities that would promote relations amongst the workers and the leaders of the company.
If I was to choose an organization that I would like to lead, I would focus on a commercial organization or one which focused on providing services at a profit. The reason behind such a choice is that I like working in a place where I can calculate the turn over, calculate performance in figures. This helps me determine fast enough how much more input is expected from my side, and what changes can be made to effect further change. An example of this would be a bank, whereby I will have to handle finances. The banks so far have a working system, but personally I think they do not focus on the most generative members of the society; the youth. The amount of energy, desire and passion from the youth should be cupped before it runs out which apparently in the current world is always too soon, and then they engage in illegal activities due to lack of money and untapped creativity. Thus, I would focus on tapping into that, create a system that gives out loans to creative and innovative youth without collateral but ensure that the projects are followed through with project managers employed by the bank to ensure their success. Once the desired target is reached the banks can start deducting their fee from the profits recognized at a specified interest rate. The format of providing loans with an interest to either workers with a constant pay slip or individuals who have assets as collateral would remain as my intention will be to ensure the bank is deep rooted financially for stability during such projects.
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