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Social Science Clinic => Business => Management => Topic started by: wrbasek0 on Dec 3, 2019

Title: How does labour specialization assist in reducing labour costs (list three ways)?
Post by: wrbasek0 on Dec 3, 2019

Question 1

What are the advantages and the disadvantages of the employment-stability policy "holding employment constant?"

Question 2

How does labour specialization assist in reducing labour costs (list three ways)?

Title: How does labour specialization assist in reducing labour costs (list three ways)?
Post by: shayla on Dec 3, 2019

Answer 1

Holding employment levels constant maintains a trained workforce and keeps hiring, termination, and unemployment costs to a minimum. But when demand is low, people may be underutilized, and when demand is high, the firm may be unable to respond.

Answer 2

Labour specialization assists in reducing labour costs by development of dexterity and faster learning by the employee because of repetition; less loss of time because the employee will not be changing jobs so frequently; development of specialized tools and a reduction in investment because each employee will require only a few tools for a particular task.