mgmt

Proposal Assignment

Student loans and debts are a major concern and a problem in the country. The burden of loans and debts has enormous repercussions on the functioning and decision-making of the organization. Financial stress is a major issue, the personal issues of the employees are reported to affect their performance in the organization. My proposal is that the organization should help the employees pay their student loan balances. This could be done by making financial literacy a priority in the organization. There will be a program that would be entirely be dedicated to the employees. The aim of the program is to equip every employee with the financial skills they need. In addition, the organization should organize a monthly payment that would go directly to paying the loans. The lean assistance from the organization would help attract and retain the best candidates for the managerial positions in the organization.

The overwhelming student loans could affect the individual motivation of the employees and the work-life balance where the employees are forced to work for extra hours to manage to repay the loans. With the organization having a program where the employees can be helped to manage the loans. A student loan assistant program would be more beneficial for the organization, it would help attract fresh and young talents and retain them. This would be a valuable recruiting tool for the organization that could be impactful and useful to the organization.

The biggest motivator for the organization is to have dedicated and productive employees. This can be achieved by the student through the student loan repayment assistance program. The organization should be ready to work closely with the employees to take the burden of the student loan and work together to bring the payoff date closer. this would bring much appreciation of the employees to the organization.( Baum, 2016).

References

Baum, S. (2016). Student loan programs and the realities of student debt. Student Debt, 17-42. https://doi.org/10.1057/978-1-137-52738-7_2

Pendleton, S. (2014). Reducing stress and increasing employee loyalty: Helping college graduates manage student loan debt. https://doi.org/10.19099/fstp.081403

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