Saturday, May 4, 2013

Collapse of building in Bangladesh and after thoughts.

    Now it is known that in the textile mill building collapse over 450 persons have died and many more are injured.Pictures are heart wrenching.In this inter-connected world multinational companies are continuously sourcing their products at the cheapest producers.This they achieve by paying workers low wages .In some of  the poorest countries where jobs are hard to come by they get this work done  at as little as $30 dollars per month.One would think this should give them enough price advantage .Not so they squeeze in the cost of building and other needs so many factories are run in unsafe buildings.When accidents happen, these large companies  want to wash hands of their liability by cancelling contracts and absolving themselves of the responsibility of the liability.
       They could  easily require these contractors to maintain health insurance and workman compensation for all employees which will pay for medical expenses and pay wages or death benefits for severe injury or death.

      They can require all employers to carry death benefits of $20000 and disability  of 75% percent of the wages.
      Some analyses by reputed researches have shown that  this insurance will guarantee a safer work environment for the workers as well  as financial security for the victims of tragedy.This should cost   no more than 10 cents per garment.I think we all can afford to pay this much extra so our fellow citizens may have some peace of mind.Improved productivity and job satisfaction may be side benefit of this change.

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