This document discusses factors that influence wage and salary structures and administration. It identifies six main factors: productivity, an organization's capacity to pay, managerial attitudes, going wages and salaries paid by other companies, supply and demand of labor, and cost of living. It notes that productivity, capacity to pay, and cost of living are particularly important determinants. The document also lists some additional influencing factors such as labor costs, job requirements, union pressures, an organization's desire to build goodwill, and government policies and legislation.
This PPT contains about wage differentials or compensating differentials. it is an HR concept. it has meaning, reason, factors, types, and determinants of inter and intra industry wage differential.
This PPT contains about wage differentials or compensating differentials. it is an HR concept. it has meaning, reason, factors, types, and determinants of inter and intra industry wage differential.
Supplementary compensation - compensation management - Manu Melwin Joymanumelwin
Now days the organizations use supplementary compensation over and above the base compensation. It helps in satisfying the employees as well as retaining them for long time.
In this presentation, we will discuss definition and concept of Wages and Salary Administration in an organization. Objectives of determining wages and factors that affect the salary of employees is also discussed here in this presentation.
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Quality of work life,concepts, methods to improve quality of work life,flexi time,flexi place, alternative work schedules, part time employment,compressed work week, job rotation, job enlargement and enrichment, challenges in implementing QWL programmes.
In this presentation, we will understand the process of wages and salary administration, job evaluation for administering wages and salary, designing a salary structure, determination of pay and salary administration of top executives.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
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New Trends in Compensation Management (Group Mediclaim/Insurance Scheme, Personal Accident Insurance Scheme, Company Leased Accommodation,
Recreation/ATM facilities, Corporate Credit Card,
Club memberships, Cellular Phone/Laptop,
Personal Health Care, Loans, Educational Benefits, Regular Get together and other cultural programs, Wedding Day/Birthday Gift, Employee Referral Scheme, Maternity Leave, Paternity Leave, Work-life Balance, Pay Transparency, Broad banding,Variable Pay (Incentive Pay),
Flexible Benefits
Supplementary compensation - compensation management - Manu Melwin Joymanumelwin
Now days the organizations use supplementary compensation over and above the base compensation. It helps in satisfying the employees as well as retaining them for long time.
In this presentation, we will discuss definition and concept of Wages and Salary Administration in an organization. Objectives of determining wages and factors that affect the salary of employees is also discussed here in this presentation.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
Quality of work life,concepts, methods to improve quality of work life,flexi time,flexi place, alternative work schedules, part time employment,compressed work week, job rotation, job enlargement and enrichment, challenges in implementing QWL programmes.
In this presentation, we will understand the process of wages and salary administration, job evaluation for administering wages and salary, designing a salary structure, determination of pay and salary administration of top executives.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
New Trends in Compensation Management (Group Mediclaim/Insurance Scheme, Personal Accident Insurance Scheme, Company Leased Accommodation,
Recreation/ATM facilities, Corporate Credit Card,
Club memberships, Cellular Phone/Laptop,
Personal Health Care, Loans, Educational Benefits, Regular Get together and other cultural programs, Wedding Day/Birthday Gift, Employee Referral Scheme, Maternity Leave, Paternity Leave, Work-life Balance, Pay Transparency, Broad banding,Variable Pay (Incentive Pay),
Flexible Benefits
certified compensation and benefits manager sample-materialVskills
The sample course material covers the following topics as under.
Introduction
Objectives of compensation management
Principles of compensation formulation
Types of wages and wage policies
Procedure and practices for wage determination
Compensation decisions
Compensation benchmarking
Compensation trends and practices in India
Get the complete material. Check more details on the below link.
http://www.vskills.in/certification/Human-Resources/Certified-Compensation-and-Benefits-Manager
MBA SEM 3 | HR PAPER 3 | COMPENSATION AND BENEFITS MANAGEMENT | MODULE No 2 | COMPENSATION PLANNING | RTMNU MBA | FREE NOTES PDF BY JAYANTI PANDE | ProNotesJRP | MBA Notes | Human Resource Management Specialization
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Modern Database Management 12th Global Edition by Hoffer solution manual.docxssuserf63bd7
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2.
According to D. C. Beach, “Wage and salary
administration implies the establishment and
implementation of sound policies and principles of
employee compensation”.
DEFINATION
3. Wages structure implies the wage rates for all the
jobs within an organisation, industry or local market
area. Generally, organisation maintain two parallel
wage or salary structures. One can be for hourly rated
and another cab be for salaried employees.
All organisation cannot have the same wage and
salary policy. Some organisation pay minimum
necessary to attract the desired number and kind of
workers. They just pay the minimum wage rate
according to the legislation in the existence. While some
organisation pay much more than that.
MEANING
4.
1. PRODUCTIVITY :
Productivity of a candidate or an employee is
very important factor which affects the wage or salary
rate. High wages and low costs are possible only when
productivity increases considerably.
Productivity differs from organistation to
organisation, industry to industry, region to region etc.
However, productivity is considered as one of the
important factors which affects the wage and salary
structure.
Factors influencing Wage and Salary
structure and administration :
5.
2. Capacity of an organisation to pay :
Capacity or ability of an organisation to pay also
affects the salary and wage levels and wage structures.
The capacity to pay much depends upon the progress
of an organisation and the profits it earns.
Naturally those organisation which earn huge
profits also cab afford to pay much better wage rates to
their employees than the organisation which earns
comparatively less profit or earns merely marginal
profits.
6.
3. Managerial Attitudes :
Managerial attitude also influence on the wage
and salary structure and wage and salary levels. R. A.
Lester, the expert in this field observed that the desire
of the top management to maintain or enhance the
prestige of its organisation is major factor in the wage
policy of many organisation.
7.
4. Going Wage and Salaries :
The wages and salaries paid to the employees for
comparable jobs by other organisation in the industry
have an impact on the wage and salary policies, An
oraganisation’s wage and salary usually tend to
conform to the wage and salaries paid by other
oraganisation's in the industry.
8.
5. Demand and Supply of Labour :
A price of any commodity is determined by its
demand and supply. The wage and salary rates are also
determined by the demand and supply position of the
labour in the labour market.
9.
6. Cost of Living :
The employees must get sufficient amount of
pay in order to satisfy their wants and maintain a
certain standard of living. The cost of living pay
criterian is usually regarded as an automatic minimum
equity pay criterian. This criterian calls for adjustments
in payment of wages and salaries based increases or
decreased in an acceptable cost of living index.
10.
Also other factors influencing wage and salary
Labour Cost
Job requirements and the skill levels available in the
labour market
Trade Union’s Pressure, strategies and bargaining
capacity
Desire of an organisation to build their goodwill
Government Policy and Legislations