Life Beyond Pay Reading Answers is an academic reading answers topic. Life Beyond Pay Reading Answers has a total of 13 IELTS questions in total.
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LIFE BEYOND PAY
A.A new magazine was published in America this month. Success is the resurrection of a title first published in 1897 by Orison Swett Marden, an entrepreneur and author of a series of self-help books, including "Getting the Most Out of Life". The magazine's publisher, Joseph Guerriero, wants today's Success to reflect the contemporary workplace, where, he says, success is measured less by money and titles, and more by what is sweepingly referred to as "work-life balance', The first issue contains an article about men leaving work to become full-time fathers.
B.Improving the balance between the working part of the day and the rest of it is a goal of a growing number of workers in rich Western countries. Some are turning away from the ideals of their parents, for whom work always came first; others with scarce skills are demanding more because they know they can get it, Employers, caught between a falling population of workers and tight controls on immigration, are eager to identify extra perks that will lure more talent their way, Just now they are focusing on benefits (especially flexible working) that offer employees more than just pay.
C.Some companies saw the change of mood some time ago; IBM has more than 50 different programmes promoting work-life balance, and Bank of America has over 30. But plenty of other firms remain unconvinced, and many lack the capacity to cater to such ideas even if they wanted to. Helen Murlis, with Hay Group, a human-resources consultancy, sees a widening gap between firms "at the creative end of employment" and those that are not.
D.The chief component of almost all schemes to promote work-life balance is flexible working. This allows people to escape rigid nine-to-five schedules and work away from a formal office. IBM says that 40% of its employees today work off the company premises. For many businesses, flexible working is a necessity. Globalisation has spread the hours in which workers need to communicate with each other and increased the call for flexible shifts. Nella Barkley, an American who advises companies on work-life balance, says that large firms are beginning to understand the value of such schemes, 'but only slowly". For most of them, they still mean little more than child care, health care, and flexible working.
E.Yet some schemes go well beyond these first steps. American Century Investments, an investment manager in Kansas City, pays adoption expenses and the cost of home fitness equipment for its employees. Rob Marcolina, a gay consultant with Bain & Company based in
Los Angeles was allowed time off to marry his partner in Canada, and another break to look after their daughter when she was born to a surrogate mother. Mr Marcolina, who has an MBA from the high-ranked Kellogg business school, says his employer's understanding makes him want to be "part of Bain for some time.
F.Businesses have other good reasons for improving employees' work-life balance. Wegmans Food Markets, a grocery chain based in Rochester. New York frequently appears near the top of lists of the best employers in America. It has a broad range of flexible-work programmes, which gives it one of the lowest rates of employment turnover in its industry—8% a year for full-time workers, compared with 19% across the industry.
G.Simple programmes can be surprisingly cost-effective. IBM, for instance, is spending $50m over five years on facilities for its employees. Although that sounds generous, it is the equivalent of little more than $30 for each IBM employee every year. That is far cheaper than a pay rise and probably a better way to retain talented mothers and fathers. Ernst & Young, a global accounting firm, has a range of initiatives called "People First". It provides breaks for people to provide care and has over 2,300 flextime employees in the United States. James Freer, a senior executive, says he is "absolutely convinced" the initiatives help produce better financial results.
H.DeAnne Aguirre, a mother of four and a senior partner in San Francisco with Booz Allen Hamilton (BAH), says, "It is easy to make the business case for work-life balance programmes at the consultancy by looking at attrition rates. BAH calculated that it was investing more than $2m in turning a raw recruit into a partner, an investment it should be reluctant to write off. Corning, an American glass company, reckons that it costs 1.5 times a worker's salary and benefits to replace him. If it can retain just 20 workers a year who would otherwise have left. Corning reckons it would produce annual savings of $2.6m.
I.Business schools are now climbing on the bandwagon, too. In October Tuck School at Dartmouth, New Hampshire. will start a course on returning to corporate life after an extended absence. Called "Back in Business", the 16-day, $12,000 re-entry programme is open only
to students with "work experience in a high-potential career'. The majority will inevitably be mothers wanting to rejoin the workforce. But fathers are also asking for sabbaticals. Work-life balance "is not just a women's issue" any more, says Ted Childs, who is in charge Of workforce diversity at IBM. "Men, too, are very concerned about it."
J.The demand is being stoked by the "Generation Y', the under-28s. They 100k sceptically at the idea of lifetime employment within a Single organisation, and they are wary of the commitment they believe too often drove their parents to the divorce courts. Hay's MS Murlis says that today's business-school graduates are 'looking for a work style to go with their lifestyle", not the other way round. They are happy to binge-work for a while, but in return want extended sabbaticals in which to chill out.
Questions 1-5
Which paragraph contains the following statements
1. How one company helps families
Answer: E
Supporting statement: American Century Investments... pays adoption expenses and the cost of home fitness equipment for its employees.
Keywords: adoption expenses
Keyword Location: Para E, Line 2
Explanation: This paragraph outlines the specific financial and personal support provided to employees and their families, including adoption costs.
2. Two serious problems for employers
Answer: B
Supporting statement: Employers, caught between a falling population of workers and tight controls on immigration
Keywords: falling population, immigration
Keyword Location: Para B, Lines 4-5
Explanation: The text identifies labor shortages and strict immigration laws as the two primary challenges for modern employers.
3. One reason why employees need to work flexible hours
Answer: D
Supporting statement: Globalisation has spread the hours in which workers need to communicate... and increased the call for flexible shifts."
Keywords: flexible, Globalisation
Keyword Location: Para D, Lines 4-5
Explanation: Global communication needs across different time zones necessitate a shift away from rigid 9-to-5 schedules.
4. A new publication to mirror changes in the work environment
Answer: A
Supporting statement: Joseph Guerriero, wants today's Success to reflect the contemporary workplace
Keywords: Success, contemporary
Keyword Location: Para A, Line 4
Explanation: A new version of the magazine Success was launched to reflect modern themes like work-life balance.
5. How a division between companies is developing
Answer: C
Supporting statement: sees a widening gap between firms "at the creative end of employment" and those that are not.
Keywords: gap, creative end
Keyword Location: Para C, Lines 4-5
Explanation: This section describes a split between innovative companies adopting balance programs and those that remain unconvinced.
Questions 6-7
Match each name to the sentences below.
A. James Freer
B. Rob Marcolina
C. Helen Murtis
D. Joseph Guerriero
E. orison Swett Marden
F. Nella Barkley
6. Was given a break from work after the birth of his child
Answer: B
Supporting statement: another break to look after their daughter when she was born
Keywords: break from work
Keyword Location: Para E, Line 4
Explanation: Marcolina was granted time off by his employer, Bain & Company, specifically to care for his newborn daughter.
7. believes companies are not changing quickly enough
Answer: F
Supporting statement: large firms are beginning to understand the value of such schemes, 'but only slowly
Keywords: large firms, slowly
Keyword Location: Para D, Lines 6-7
Explanation: Barkley notes that while understanding is growing, the pace at which companies implement these changes is slow.
8. sees two kinds of companies emerging
Answer: C
Supporting statement: sees a widening gap between firms "at the creative end of employment" and those that are not.
Keywords: two kinds of companies, widening gap
Keyword Location: Para C, Lines 4-5
Explanation: Murlis identifies a division (gap) between companies that are creative with employment and those that are traditional.
9. was the original writer of 'Success'
Answer: E
Supporting statement: resurrection of a title first published in 1897 by Orison Swett Marden
Keywords: resurrection, Orison Swett Marden, 1897
Keyword Location: Para A, Lines 1-2
Explanation: Marden was the entrepreneur who first founded and wrote for the magazine Success in the late 19th century.
10. believes work-life programs help a company to make money
Answer: A
Supporting statement: James Freer, a senior executive, says he is "absolutely convinced" the initiatives help produce better financial results.
Keywords: absolutely convinced, financial results
Keyword Location: Para G, Lines 6-7
Explanation: Freer, a senior executive at Ernst & Young, believes that prioritizing "People First" leads to better profitability.
Questions 11-13
Write NO MORE THAN TWO WORDS from the text.
11. Ernst and Young has over two thousand people working on a……….. basis.
Answer: FLEXI-TIME/ FLEXI TIME
Supporting statement: and has over 2,300 flextime employees in the United States.
Keywords: 2,300, flextime
Keyword Location: Para G, Line 6
Explanation: The text confirms that over 2,300 workers at Ernst & Young utilize flexible time arrangements.
12. The cost of training someone to a high level from a ………..can cost millions of dollars.
Answer: RAW RECRUIT
Supporting statement: BAH calculated that it was investing more than $2m in turning a raw recruit into a partner
Keywords: BAH calculated, $2m
Keyword Location: Para H, Lines 3-4
Explanation: Booz Allen Hamilton determined it costs $2 million to train a new, inexperienced employee ("raw recruit") to the level of partner.
13. Despite their concern for a work-life balance, younger employees are willing to………..
Answer: BINGE-WORK/BINGE WORK
Supporting statement: They are happy to binge-work for a while, but in return want extended sabbaticals
Keywords: binge-work, sabbaticals
Keyword Location: Para J, Lines 5-6
Explanation: Members of "Generation Y" are willing to work intense hours ("binge-work") if they receive long breaks later.
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