Aaron Feuerstein did the unbelievable. In a business world where everyone seeks to accumulate as much revenue as possible, Aaron decided to pay his employees for many days after the calamity hit his company. He paid the entire employees by issuing them with cheques even though company as shut down and was still undergoing the process of rebuilding. This decision was essential for the company as it stood as a company with morals above many others which seemed to operate on the ordinary business values. The company attracted live and loyalty among the employees, the government and civil society. Surviving past the fire calamity after its rebuilding was sure. The decision by Aaron was right for the employees. The fire misfortune meant that the many employees were automatically unemployed; however, the decision to pay them off gave them a soft landing for those who were still engaged in seeking for jobs (Sledzik, n.d.).
The decision y Aaron had its sets of merits and demerits. The first benefit was that, by paying the employees long after the company shutting down, the company was in an away buying the loyalty of the workforce. They were likely to offer their best after the rebuilding process was complete and the company was up on its feet again. The most glaring disadvantage with the decision as that the company was likely to run bankrupt wince it was not generating any more revenue; instead, it was spending more on salaries and remunerations (Gill, 2011). The lack of adequate income would hinder the restructuring process. Borrowing from (Rowe, 2006), I would instead have paid off the first month of the employees’ salary, asked them to stay home with the assuredly of reemployment immediately the company was up. This way I would have had adequate finances to pay the reconstruction bills. In the full understanding of the ethics and business ethics, I would continue paying for the associated benefits to the employees such as health insurance cover, housing benefits and allowed them to enjoy company resources such as vehicles.
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References
Sledzik, B. (n.d.). Putting people before profits: Classic PR case study, but without the fairytale ending. Retrieved from http://toughsledding.wordpress.com/2010/03/05/putting-people-before-profits-classic-pr-case-study-but-without-the-fairytale-ending/
Rowe, M. (2006). Reputation, relationships and risk: A CSR primer for ethics officers. Business and Society Review, 111(4), 441-455.
KarmaTube: Videos That Inspire. (2009, May 21). Accessed on 20th June 2018 from https://www.youtube.com/watch?v=ry7_FcSiQL8
Gill, D. W. (2011, June 25). Was Aaron Feuerstein wrong? Retrieved from http://ethix.org/2011/06/25/was-aaron-feuerstein-wrong
