Labor Unions the Business Cycle Term Paper

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Furthermore these employers normally operate in third-world countries, where the cheapest possible labor is available as a result of the high demand for employment. These employers normally thrive in the import/export industry, where very high profits are to be made from goods produced at very low labor costs. The employment situation is normally short-term, and laborer turnover is high. These are not elements that affect the profit of the employer.

Higher standards employers thrive in terms of human relations and long-term quality contracts with their workers. These employees, by the quality of their work, increase the profit of the company and remain with the company as a result of incentives such as working conditions, wages and status. Thus, whereas profit is not as high initially, the employer-employee relationship grows to become increasingly profitable. This situation usually occurs locally in companies providing services rather than goods. The quality of service is necessarily dependent upon human relations, which are then cultivated on the employer-employee level, and reflected in the company's relationship with its clients.

The main difference between lower and higher standards employers is then that the latter regard their relationship with their employees as highly important, whereas lower…

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