contingent worker

Examples of contingent worker in the following topics:

• Leadership and Situational Context: Fiedler

  • The Fiedler situational contingency model measures leadership traits with a test that provides a leadership score corresponding to the workplace where the leader would be most suited.
  • The LPC test is not actually about the co-worker; it is a profile of the test taker.
  • Fiedler's contingency theory has drawn criticism because it implies that the only option for a mismatch of leader orientation and unfavorable situation is to change the leader.
  • Also, the contingency model does not take into account the percentage of situations that might be somewhat favorable, completely unfavorable, or even extremely favorable.
  • The Least Preferred Co-worker (LPC) test reveals more about the test-taker than about the co-worker or the type of work the tester and co-worker did together.

• The Contingency Viewpoint

  • The contingency viewpoint of management proposes that there is no standard for management; instead, management depends on the situation.
  • Instead, the optimal course of action is contingent or dependent upon the specific internal and external situation management may find itself in.
  • Debating which one of the previous approaches to management is the "best" approach is irrelevant in contingency theory, since the heart of the contingency approach is that there is no "one best way" for managing and leading an organization.
  • By its nature, contingency theory avoids static rules.
  • An example of the contingency viewpoint in action is a manager facing a situation with an employee who regularly shows up late to work.

• Reporting Contingencies

  • Contingencies are reported as liabilities if it is probable they will incur a loss, and their amounts can be reasonably estimated.
  • A loss contingency is less than 50% likely to occur due to a past obligation.
  • Gain contingencies are reported on the income statement when they are realized (earned).
  • A probable loss contingency can be measured reliably if it can be estimated based on historical information.
  • Conservative accounting principles state that companies should report loss contingencies as they occur.

• Internal and External

  • The control process can be hindered by internal and external constraints that require contingency thinking.
  • Labor contracts, for example, may constrain managers' flexibility in worker scheduling and work assignments.
  • Labor contracts may also restrict the number of workers employed at any time, thereby establishing a floor for minimum labor costs.

• Gain Contingencies

  • Gain contingencies, or possible occurrences of a gain on a claim or obligation involving the entity, are reported when realized (earned).
  • The disclosure of gain contingencies is affected by the materiality concept and the conservatism constraint.
  • Thus, for a gain contingency, only a realized gain is accrued for and disclosed on the income statement.
  • A material gain contingency that is both probable and reasonably estimated can be disclosed in the notes to financial statements.
  • Explain how a company reports a gain contingency on their financial statements

• Hypotheses about relations within/between groups

  • The partition vector (group identification variable) was originally coded as zero for non-worker donors and one for worker donors.
  • The first row, labeled "1-1" tells us that, under the null hypothesis that ties are randomly distributed across all actors (i.e. group makes no difference), we would expect 30.356 ties to be present in the non-worker to non-worker block.
  • It is clear that we have a deviation from randomness within the "non-worker" block.
  • Using Tools>Testing Hypotheses>Mixed Dyadic/Nodal>Categorical Attributes>Relational Contingency-Table Analysis we can expand the number of groups to provide a better test.
  • This time, let's categorize the political donors as representing "others," "capitalists," or "workers."

• Loss Contingencies

  • A loss contingency may be incurred by the entity based on the outcome of a future event, such as litigation.
  • A loss contingency is incurred by the entity based on the outcome of a future event, such as litigation.
  • Loss contingencies can refer to contingent liabilities that may arise from discounted notes receivable, income tax disputes, or penalties that may be assessed because of some past action or failure of another party to pay a debt that a company has guaranteed.
  • Unlike gain contingencies, losses are reported immediately as long as they are probable and reasonably estimated.
  • Summarize how a company would report a loss contingency on their financial statements

• Reducing Turnover

  • High turnover may be harmful to a company's productivity if skilled workers are often leaving and the worker population contains a high percentage of novice workers.
  • It has been found that lower performance, lack of reward contingencies for performance, and better external job opportunities are the main causes.
  • In addition, by paying above-market wages, the worker's motivation to leave the job and look for a job elsewhere will be reduced.
  • This strategy makes sense because it is often expensive to train replacement workers.

• Review Techniques

  • High turnover may be harmful to a company's productivity if skilled workers are often leaving and the worker population contains a high percentage of novice workers.
  • It has been found that lower performance, lack of reward contingencies for performance, and better external job opportunities are the main causes.
  • In addition, by paying above-market wages, the worker's motivation to leave the job and look for a job elsewhere will be reduced.
  • This strategy makes sense because it is often expensive to train replacement workers.

• Executive Compensation

  • The ratio of CEO pay to average worker pay is far greater in the U.S. compared with other countries.
  • In Japan, the ratio of CEO pay to average worker pay is 11:1; in Italy, it is 20:1; in Britain, it is 22:1; in Mexico, it is 47:1; and in the U.S., the ratio is 475:1.
  • Portfolio company executives take a pay cut but are routinely granted stock options for ownership of 10% of the portfolio company, contingent on a successful tenure.
  • As of 20120, the current ratio of CEO pay to average worker pay was:
  • The compensation of CEOs in the United States has risen to over 400 times the salary of the average U.S. worker, compared to about 30 times only a few decades ago.