For any company that has employees, like the reputation management company, pay and benefits is an important factor to take into consideration by the human resource management. When there are pay and benefit factors involved in an organization, this will have a great social and economic impact on employees and communities. This allows company policies and practices to transfer the burden and add stress on local social services systems as a result of inadequate wages and benefits. It is important for a sustainable organization to benefit from ensuring the compensation structure is fair and equitable for employees and employers. Internal equity would be present if employers across the organization generally receive the same pay if they are different genders and have been there for equal amount of time. External equity would be the fairness of pay relative to what other employers are paying for similar labor somewhere else. It is important for any organization to conduct data research on pay studies annually to ensure programs remain competitive and implement annual review cycle for ongoing monitoring.
Companies have the choice to develop compensational systems based upon an elitist system that is established in different compensation plans for different employee groups or an egalitarian system, which is having most employees under the same equal compensation plan. One specific employee benefit of interest to the sustainable business is the commuter-choice tax benefit which his the federal tax code that allows employers to provide commuter-choice tax benefits to employees which means employees who commute to work using a car, or public transit can set aside up to 230$ per month in pre-tax dollars for commuting expense and also up to 230$ for parking expenses. Then, the employer is also able to claim a tax deduction for the expense and it is considered a business expense since it is listed as a fringe benefit and not as wage or salary benefit.
Some good news has come on the scene in the drug and alcohol abuse crisis of the nation says Drug Rehab Peoria care takers. This is that young adults are less likely to become addicted to alcohol than X Generation individuals or Baby Boomers are. This does not say anything about drug use and abuse, which is still very true and very much a concern for all demographics, including the Millennials. However, the fact is that these individuals really have been putting the bottles away and opting for other things to do to have a good time. Even if the drug use crisis amongst these individuals has not changed, then there is still the good news that this demographic has significantly lower likelihoods of abusing alcohol than previous generations did.
As for the current number of Millennials, the United States Census Bureau defines Millennials as an age group between 18-34. As of this year of 2016, Millennials have grown to become the largest age group in America by far, topping out at no less than 75.4 million individuals all in all. Their numbers now surpass that of Baby Boomers, the next largest U.S. age group at 74.9 million, which is a close second but a second nonetheless.
The balance beam has finally shifted in the other direction, and now the new generation of adults in the nation is in higher numbers than their parents. While having such a large representation of the U.S. population, Millennials decidedly maintain a strong influence within the country by far, and they are also the economic background of the nation too. Marketing has as a result of this turned to Millennials as the next big buyer of consumer goods, and less marketing and politics has been aimed at the Baby Boomers as it once was.
What Happens When the Biggest Demographic in the Nation Isn’t Drinking as Much
Reports from many different areas have been increasingly showing that Millennials simply don’t drink as much as preceding population groups, such as the X Generation or Baby Boomers. In fact, on a percentage basis, the Millennials have some of the lowest substance abuse issues in the entire nation. While it’s been shown that Millennials have become one of the largest wine consumers in the country, as far as hard alcohol is concerned, they seem to rarely imbibe in the booze, if at all. Furthermore, even when they do drink wine, they don’t generally abuse it and they don’t usually get addicted to it.
This means a lot of good things for Peoria. Peoria is a city that has suffered from addiction; however, studies have shown that the Millenials of the nation don’t drink as much. This age range is a big one in Peoria. However, the residents of Peoria should not rest on their laurels. The residents here need to maintain care and consternation and stay vigilant in case the issue ever comes up again. It certainly could happen, as we all have seen how fast addiction can become a serious and highly degrading issue in any given area.