a) As well as serious implications for people's health, COVID-19 has also impacted business and the economy. Malaysian Government has launched a few series of movement control orders (MCO) to break the chain of transmission with the ultimate aim of leveling the rate of infection. As a CEO of the company, you have no choice but to restructure companies and cut the salaries of your employees to survive in the industry. You decided to deduct 30% of employee's salary while 50 of professional staff will be advised to have Voluntary Separation Scheme (VSS). As a result of this situation, some of well performing employees have decided to quit from the job by opting for better opportunities, while the rest of the staff have started reducing their work quality and productivity. Analyze the best method to motivate your employee's morale with using Equity theory.
a) As well as serious implications for people's health, COVID-19 has also impacted business and the economy. Malaysian Government has launched a few series of movement control orders (MCO) to break the chain of transmission with the ultimate aim of leveling the rate of infection. As a CEO of the company, you have no choice but to restructure companies and cut the salaries of your employees to survive in the industry. You decided to deduct 30% of employee's salary while 50 of professional staff will be advised to have Voluntary Separation Scheme (VSS). As a result of this situation, some of well performing employees have decided to quit from the job by opting for better opportunities, while the rest of the staff have started reducing their work quality and productivity. Analyze the best method to motivate your employee's morale with using Equity theory.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Transcribed Image Text:As well as serious implications for people's health,
а)
COVID-19 has also impacted business and the economy.
Malaysian Government has launched a few series of
movement control orders (MCO) to break the chain of
transmission with the ultimate aim of leveling the rate of
infection.
As a CEO of the company, you have no choice but to
restructure companies and cut the salaries of your
employees to survive in the industry. You decided to deduct
30% of employee's salary while 50 of professional staff
will be advised to have Voluntary Separation Scheme
(VSS). As a result of this situation, some of well
performing employees have decided to quit from the job by
opting for better opportunities, while the rest of the staff
have started reducing their work quality and productivity.
Analyze the best method to motivate your employee's
morale with using Equity theory.
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