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Health care expenditures will decrease due to reduced medical insurance premiums, reduced absenteeism, reduced turnover rates, reduced worker's compensation claims, reduced tardiness, shorter hospital stays, etc.
Known as Societas Europaea, or S.E., the arrangement allows Porsche to negotiate reduced worker representation on the board.
"Some plants reduced worker numbers by 20 to 30percentt, now they hire back 10percentt," said Stanley Lau, deputy chairman of the Federation of Hong Kong Industries, which represents export-oriented factories employing 10 million Chinese workers.
Unhealthy diets and the lack of exercise can contribute to reduced worker productivity and increase health care spending.
All of this has direct and indirect costs on employers, including loss due to reduced worker productivity.
The Payroll Tax Holiday has reduced worker's social security tax withholding by two percent since January 2011.
Similar(51)
At the same time, global competition has reduced workers' bargaining power.
Once again, government reduced workers, driven by cutbacks at the local level.
The payroll tax holiday this year has reduced workers' tax on wages up to $110,100 to 4.2 percent from 6.2 percent.
For the full year, growth in the number of hours worked was the lowest since 1992, as companies reduced workers' hours before resorting to layoffs.
Health care costs might be reduced; workers would have fewer pain-related absences from work; and fraud from feigned pain might be eliminated.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com