Being one of the pioneers and the longest serving staff member of The Great International bank Limited, it has come to my realization that the financial wellbeing of the staff has been neglected for a long time. Based on the current economic hardships that have led to the high cost of living, there is a need for the company to review the employees’ terms based on remuneration. When the company was formed, the general cost of living was low and thus we were able to live within our earnings. Twenty years down the line, the cost of living has doubled. This has been made worse by the increased workload.
As per the company’s financial report, the pre-tax profit in the first half quarter of the company rose by 25%.such a margin has never been met by any other organization within this region either in the public or private sectors. This made the Great International Bank to be ranked top in profit making within the region. On the contrary, the staffs’ remuneration in other financial institutions is much better as compared to that in The Great International Bank Limited. This is despite the fact that such institutions are not making huge profits as those witnessed by The Great International Bank limited.
In view of this, I call upon the organization’s management to look into the plight of its staff by reviewing their remuneration package as a sign of appreciation and motivation for their hard work and commitment. This will not only change the current financial wellbeing of the company, but also its future welfare.
In the above memo, I have used the five key headings and main body guidelines. The first heading introduces the name of the company and is normally contained in the letterhead. The second heading identifies the person to whom the memo is being addressed, while the third heading recognizes the person who prepares the memo indicating the names and professional title. The date when the memo was prepared is indicated in the fourth heading. It includes the month, day and year of preparation. The final heading contains the subject of the memo and introduces the major concern raised in the Memo.
The chief component is the main body which contains various sections. To begin with, it has the introductory part which elaborates on why the information needs to be passed across. The analysis part expounds on the ethical values, organization’s interests and the stakeholders. The stakeholders may include the staff or the customers. The last part of the main body discusses the possible consequences and subsequent alternatives that could be taken. The memo has a concluding paragraph which gives the findings and possible recommendations. Normally, a memo appears in organized paragraphs which are not indented.
Memos can either be persuasive or informative. In most cases, persuasive memos appeal to the readers’ interest prior to giving them directives. On the other hand, informative memos highlight the underlying facts requesting the readers to respond thereafter. According to Bowman and Elliston, the application of ethical and political values in ascertaining efficiency in human management is of great importance. The two authors explore the dilemma faced by the prevailing government system as a result of failing to address the ethical norms in the workplace as pertains to employees together with their employers. They conclude by pointing out that efficiency in business and administrative management can only be achieved through persuasion and cohesiveness between the employers and the employees.
In reviewing persuasion as a social influence, Clialdini elaborates on the key components that bring about change. He begins by explaining the term compliance which may be used explicitly or implicitly. A direct request, (explicit) or promotion of products by giving free gifts (implicit), form the two types of persuasion. In both cases, an individual is targeted to finally respond in a positive way. He in turn points out the six key behaviors of the human beings that bring about the change. He goes further in explaining on how authority, scarcity, consistency, liking, social validation and reciprocation bring about persuasion hence culminating in empowerment.
When one is on good terms with fellow colleagues, the views he brings forth are likely to be accepted and adopted. The people being persuaded to support a given idea look into the credibility of both the information and people bringing it forth. Most human beings prefer moving together other than being solitary hence the scarcity and social validation. The acts of desiring to be treated in the same way you treat others bring out the principle of reciprocation, hence addressing persuasion. Based on the persuasion notion given by both Bowman and Clialdine, my memo has an ethical backing since I possess the credibility. This is elicited by the long period I have worked within the organization. Coupled with the cited evidence on the lucrative profit made by the organization, both the management and staff members will find it worth and hence they are likely to be persuaded.