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A sound wage policy is to adopt a job evaluation programme in order to establish fair differentials in wages based upon differences in job contents. Beside the basic factors provided by a job description and job evaluation, those that are usually taken into consideration for wage and salary administration are:
- The organizations ability to pay
- Supply and demand of labour
- The prevailing market rate
- The cost of living
- Living wage
- Productivity
- Trade unions bargaining power
- Job requirements
- Managerial attitudes and
- Psychological and sociological factors
- Levels of skills available in the market
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What is wage structure?
What is the wage structure?
What is the wage structure?
What is the wage structure?
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