The first factor influencing the efficiency of labor among the banking institutions in the UAE is inheritance (Yogesh 2009). Research has established that individuals from a good background collection are likely to perform well in their jobs. What this implies is that the quality and rate at which a person develops physically and mentally and which is usually not the same among individuals is what brings about the genetic variations (Yogesh 2009). It means that individual with good genetic background and whose physical and mental development was good are likely to perform efficiently.
Climate Climate is another factor that influences the efficiency of labor among the banking institutions in the UAE (Yogesh 2009). It is common knowledge that a favorable climatic condition is likely to favor the good performance of an employee while an unfavorable climatic condition would have the reverse effect. What I imply here for instance is that a very hot and dry climatic condition would require the banking institutions in the UAE to install air conditioners and fans in the design of their offices.
Otherwise the excess heat would make the employees uncomfortable thus lowering with their efficiency at work. Health of Worker The other factor influencing the efficiency of labor is the health of the worker. The physical condition of the worker plays an integral role in the way the particular employee among the banking institutions in the UAE performs on the job (Yogesh 2009). It is expected that an employee who is healthy will have a sound mind and body thus will most likely perform well on the job (Yogesh 2009).
On the contrary, a sick employee or an employee who is suffering from physical injuries is likely to be distracted and may not perform efficiently on the job. The health of the worker is also be linked to employee absenteeism since a sick employee is likely to be absent from work thereby interfering with work scheduling and reducing the level of productivity of the firm. General and Technical Education Education, whether technical or general is another factor that influences the efficiency of labor (Yogesh 2009).
This implies that education has a direct impact on the working capacity and how efficient the employee is. In other words, generally education will enhance the knowledge and skill of an employee of the banking institutions in the UAE thus equipping the employee with the required attributes to perform well on the job (Bratton & Gold 2003). Lack of knowledge on the job would mean that the employee does not understand the job thus will perform inefficiently (See figure 1 in the appendix). Personal Qualities
The personal qualities of an employee of the banking institutions in the UAE also influence the efficiency of labor of that employee (Bratton & Gold 2003). Employees with differing personal qualities are likely to have definite variations in the way they behave and carry out their duties at work (Yogesh 2009). It is these varying personal qualities that will result in the variations in the efficiencies of the employees as they execute their duties in the organization (Francesco & Gold 2005).
For instance, a close analysis of the behavior of employees of the banking institutions in the UAE could discover that introverted persons may not perform very well as front office managers owing to the reserved nature of their personality yet they can work independently and efficiently in say accounts or IT where the level of interaction with many people is minimal (Francesco & Gold 2005). On the contrary, an extroverted employee is likely perform efficiently at the front office since they are outgoing and will possibly interact very well with many people (See figure 4 in the appendix).
Wages Wages is another influencing factor in the efficiency of labor. It is widely acknowledged that a good wage will go along way in guaranteeing some reasons in the standards of living of the employees (Bratton & Gold 2003). For instance, a good wage is likely to bring about a good cheer and satisfaction on the part of the employees of the banking institutions in the UAE thereby acting as an incentive for them to perform well in their jobs.
The implication here is that in an organization, a good salary or wage structure will most likely motivate the employees to perform well in their jobs thereby influencing their efficiency (Francesco & Gold 2005). Hours of Work The efficiency of labor is also influenced by the working hours that the employees put in (Yogesh 2009). Studies have shown that long and tiring hours have a negative effect on the effectiveness with which the employees are likely to perform.
Employees in the banking institutions in the UAE are likely to perform efficiently in the morning hours when they are fresh although the performance could decline as more and more hours are put in by the employee. It is therefore recommended that periodic breaks be provided between works schedules to enable the employees relax and reduce fatigue. In my opinion, this will also go along way in reducing work stress. It is only then that the efficiency of the employees will be enhanced. Economic Factors
The other factors also influencing the efficiency of labor include the recent financial crisis and credit crunch, globalization and government regulations among others. The prevailing financial crisis for instance has made many organizations to downsize their operations and lay off many employees thereby interfering with labor productivity (Quignon 2008, pp. 17-36). In the same way, globalization has permitted the geographical migration of expert knowledge from one region to another across the globe in which case some organizations have been able to outsource expert labor while other have not (IMF 2007).
By permitting such kind of migration, globalization influences the kind of human resources available in many sectors of the economy world over (Beaverstock 1996a, pp. 459-470). Similarly, the government of the UAE may stipulate that a certain economic policy or regulation pertaining to manpower be adhered to by the banking institutions in the UAE in light of the concept of globalization and the financial crisis (Acocella 2005). Such government policies are also likely to shape the efficiency of labor.