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ZX Bank is a large retail bank that operates in all states in Australia - VCE - SSCE Business Management - Question 2 - 2013 - Paper 1
Question 2
ZX Bank is a large retail bank that operates in all states in Australia. In response to a recent market survey of its customers, it is considering opening its branch... show full transcript
Worked Solution & Example Answer:ZX Bank is a large retail bank that operates in all states in Australia - VCE - SSCE Business Management - Question 2 - 2013 - Paper 1
Step 1
Employee expectations include a number of factors.
Answer
To understand employee expectations regarding work-life balance and conditions of employment, we must consider various factors:
Conditions of Employment
- Fair Compensation: Employees expect to be paid a fair wage that reflects their work contributions and the value they bring to the bank.
- Working Hours: The number of hours employees are required to work is crucial. Many employees prefer a schedule that allows them to maintain a healthy work-life balance.
- Leave Entitlements: Employees have expectations regarding their leave entitlements, including annual leave, sick leave, and personal leave, which contribute to their overall job satisfaction.
- Flexible Working Arrangements: The opportunity for flexible work hours or remote work options can significantly impact employee morale and productivity.
Work-Life Balance
- Balance Between Work and Personal Life: Employees aim for a balance that allows them to fulfill both their work responsibilities and personal interests or family commitments. The proposed weekend shifts may disrupt this balance.
- Job Satisfaction: If work interferes too much with personal life, it can lead to reduced job satisfaction, affecting employee performance and retention.
- Expectations about Weekend Work: As indicated by the survey results, many employees prefer not to work weekends. This expectation reflects their prioritization of personal time over additional earnings.
- Impact on Family and Social Life: Weekend work may also have repercussions on family dynamics and social engagements, making it a significant factor in employee expectations.
Importance of Communication
Employees also expect open lines of communication with management regarding changes in working arrangements. Clear communication can help mitigate misunderstandings and foster a collaborative environment, allowing both sides to negotiate effectively and align expectations appropriately.