Wicked Widget Company Payment Policy Analysis

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To save money, Wicked Widget have decided to pay employees per widget produced, rather than per hour spent working. They are sure that this policy will lead to gains not only in terms of efficiency – that is, less cost to the company and fewer employee minutes per widget – but also in terms of widget quality, since workers will be paid only for widgets that are accepted by our Widget Inspection Team. Gains in efficiency will allow to retain only the best staff, and to operate the factory floor for less time each week, resulting in savings in electricity and management costs. The best workers will keep their jobs, and Wicked Widget will earn a healthy profit in the coming year.

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To save money, the people of the Wicked Widget Company decided to pay their employees per every widget they produced rather than per hour the workers spent in the factory per day. They felt sure that the policy will lead to them gaining not only in terms of efficiency but also in terms of their product quality since workers will be paid only for the widgets that are going to be accepted after being inspected by the factory’s Widget inspecting team. The argument that the Gains in efficiency will allow them to retain only the best staff, and to operate the factory floor for less time each week thus resulting in savings in electricity and management costs was not well reasoned. The employees should be paid for every hour they have spent working rather than per every widget produced and inspected. If the employers do not do this, the best workers will not keep their jobs and Wicked Widget will no longer be going to earn a healthy profit in the coming years.

The employers felt sure that the policy will lead to them gaining not only in terms of efficiency but also in terms of their product quality since workers will be paid only for the widgets that are going to be accepted after being inspected by the factory’s Widget inspecting team. They did not know that this way will cause them to lose all their workers because this is a kind of mistreatment. The best workers will not keep their jobs. They should not include the Widget inspection team in the argument. This is because we assume that it is not a single worker involved from the processing of the raw materials to the completion of the product and therefore errors might occur at different processing stages leading to a certain product being the default. They would also have included things like commissions and pension schemes such as allowances for hardworking workers. This way would make the argument valid.

Additional evidence like the inclusion of the inspection team would therefore weaken the argument as discussed in the previous paragraph.

On the other hand, additional evidence would strengthen the argument. For example, to pay their employees per every widget they produced rather than per hour the workers spent in the factory per day will improve the working rate of the workers. Inspecting each product produced will improve the workers’ efficiency and accuracy. This will lead to greater achievements in outputs in terms of profits.

Money is considered a medium of exchange; it is a source of power and wealth. Many have tried to produce different ways of making economical use of money for the betterment of their living. As much as we try to look for better ways of increasing our income, we should also put much consideration into our inputs.

The workers’ condition under the factory system arouses some concerns. Many employers take advantage of the workers by subjecting them to the frequent threat of unemployment since they do not have any place to earn their living.

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Workers in the wicked widget are not in a position to act in their wishes against the company owners. The owner of the company believes that they will save money if they pay their employees per widget, they produce rather than per hour spent working. They feel sure that this is one way of maximizing their profits as the policy will lead to gains not only in terms of efficiency but also in terms of their product quality since workers will be paid only for what they have produced and accepted by the company’s inspection team. According to them, less cost to the company and fewer employee minutes per widget were more efficient. They also believe that the gains in efficiency will allow them to retain only the best staff, and to operate the factory floor for less time each week as this would result in savings in electricity and other management costs that are incurred. The formation of stronger organizations to cater to the health of the workers in the company will be of foremost importance. Workers should be given benefits such as medical and transport allowances, holidays and salary increments as this will boost their morale in the factory thus higher productivity. There is no need for the wicker widget employers to prolong the working hours and pay less salary to maximize your profits. This way will make the argument valid.

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BusinessEssay. (2022, February 20). Wicked Widget Company Payment Policy Analysis. Retrieved from https://business-essay.com/wicked-widget-company-payment-policy-analysis/

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BusinessEssay. (2022, February 20). Wicked Widget Company Payment Policy Analysis. https://business-essay.com/wicked-widget-company-payment-policy-analysis/

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"Wicked Widget Company Payment Policy Analysis." BusinessEssay, 20 Feb. 2022, business-essay.com/wicked-widget-company-payment-policy-analysis/.

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BusinessEssay. (2022) 'Wicked Widget Company Payment Policy Analysis'. 20 February.

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BusinessEssay. 2022. "Wicked Widget Company Payment Policy Analysis." February 20, 2022. https://business-essay.com/wicked-widget-company-payment-policy-analysis/.

1. BusinessEssay. "Wicked Widget Company Payment Policy Analysis." February 20, 2022. https://business-essay.com/wicked-widget-company-payment-policy-analysis/.


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BusinessEssay. "Wicked Widget Company Payment Policy Analysis." February 20, 2022. https://business-essay.com/wicked-widget-company-payment-policy-analysis/.