Wage and salary administration involves consideration of various interests such as those of employers, employees, government and society at large. Tied to each job are the basic function, characteristics, and typical work of that job classification, along with pay range data. $("span.current-site").html("SHRM China "); in terms of length, difficulty, and whether the training is provided by society, employers, or individuals Wages are payments for labour services rendered frequency, expressed in hourly rates, while a salary is a similar payment, expressed in weekly, monthly or … Nine percent utilize a hybrid or mix of traditional and broadband structures. Much of this can be seen as a return to an employment relationship of almost a hundred years ago.19. Then decide who and when will conduct the survey and plan the method, sample, time and tools of collecting the data to be planned. Traditional theorists define wage and salary administration as the process by which wage and salary levels and structures are determined in organisational settings. 1 (2005): 33–36. approaches deliver pay based upon what the person brings to the organization and not what 2. union-and-product-oriented salary structures. (organizations in which most jobs are filled from outside) rely on market rates. follow a policy of fixed amount increases because most of their members are in lower-paid groups. Technology is making different forms of compensation more practical. Variable pay is pay for the outcomes of work and effort. Setting of wage and salary structure by the management also involves the problem of strategic decisions regarding various components of wages. If your organization also operates overseas, a consideration is how domestic workers will be paid in comparison to the global market. "How can they decide to pay that job over there more than our job? Chapter 2: Developing and Implementing Strategic HRM Plans, Chapter 3: Diversity and Multiculturalism, 5.2 Criteria Development and Résumé Review, 8.1 Steps to Take in Training an Employee, Chapter 9: Successful Employee Communication, Chapter 10: Managing Employee Performance, 11.3 Completing and Conducting the Appraisal, 12.3 Administration of the Collective Bargaining Agreement. Salary structure decisions, then, are intended to achieve retention of employees through prevention This will help you have a good basis for creating your salary structure. various determinants. Every point rise or fall in the index is linked to money value. Unfortunately,

cannot maintain this strategy in the face of opposition from higher-paid groups. Types of Wage and Salary Surveys 14. The starting point is to identify the organization's The law for minimum wages is fixed from time to time by Administrative Commission of the Government with variation in the wage rates. Salary method vs. draw method. The responsibility for placing the worker within the band falls on the supervisor and the budgetary process.

an optimal balancing of conflicting personnel interest so that the satisfaction of the employees and employers is maximised and conflicts are minimised. The main advantage of broad banding is that it injects greater flexibility into employee compensa­tion. In a job classification system, every job is classified and grouped based on the knowledge and skills required for the job, years of experience, and amount of authority for that job. through the development of a salary structure, which defines job levels or grades, and assigns pay rates to those Jobs offered by an organisation vary in terms of their values. Ordinarily, only some jobs, called benchmarks, are used to develop the The federal government and most state governments use this type of system. Take Home Salary- It is the amount of salary left to the employee after making authorized deductions like contribution to the provident fund, life insurance premium, income tax and other charges.

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