"In an effort to reduce costs across the board, Pilchard wishes to hire recent graduates of MBA programs who have little experience. His firm would be paying them above competitive salaries even if it offered them one-half the salaries of its present staff members who are over age 40. Should Pilchard terminate the older employees in favor of the younger, less-expensive workers? What if one or more of the older employees were willing to accept a 50-percent pay cut? Can Pilchard make the 50-percent pay cut a condition on older employees for remaining employed?"

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Pilchard should not terminate the older employees for the young employees who are not experienced but should find a way to ensure that there is the balance between the young inexperienced employees joining the organization and the old employees. The Pilchard should offer the younger employees salary based on the salaries that exist within the industry and not competitive as indicated. The young employees being employed should base on the number of the older employees that are within the organization. This is the anticipation of the takeover when time comes for the older employees to retire.
Advantages of young and old employees
There are various advantages that exist when it comes to the young and the old employees that should be factored in before Pilchard decides to terminate the older employees in favor of the young inexperienced employees.
Young employees
The young employees have various advantages that should be considered by Pilchard.
The first advantage is that the young employees have the energy and they are also full of it. The energy is because they are fresh from the college and some have not been in the industry for long, and they are often curious into learning new things within the organization....

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