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    Wages and Salary Administration

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    abhimanyu1308
    Wages and salary administration refers to establishing and implementing sound policies and practices for employee compensation. It includes areas like job evaluation, wage and salary surveys, developing and maintaining pay structures, establishing wage payment rules, incentives, and controlling compensation costs. The purposes are to eliminate inequalities, minimize favoritism, increase motivation, plan labor costs, explain pay basis, reduce grievances, and attract qualified personnel. Principles include flexibility, job evaluation basis, conformity to plans and social objectives, responsiveness to changing conditions, and simplicity.

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    Wages and Salary Administration

    Uploaded by

    abhimanyu1308
    165 views11 pages
    Wages and salary administration refers to establishing and implementing sound policies and practices for employee compensation. It includes areas like job evaluation, wage and salary surveys, developing and maintaining pay structures, establishing wage payment rules, incentives, and controlling compensation costs. The purposes are to eliminate inequalities, minimize favoritism, increase motivation, plan labor costs, explain pay basis, reduce grievances, and attract qualified personnel. Principles include flexibility, job evaluation basis, conformity to plans and social objectives, responsiveness to changing conditions, and simplicity.

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    Wages and salary administration refers to establishing and implementing sound policies and practices for employee compensation. It includes areas like job evaluation, wage and salary surveys, developing and maintaining pay structures, establishing wage payment rules, incentives, and controlling compensation costs. The purposes are to eliminate inequalities, minimize favoritism, increase motivation, plan labor costs, explain pay basis, reduce grievances, and attract qualified personnel. Principles include flexibility, job evaluation basis, conformity to plans and social objectives, responsiveness to changing conditions, and simplicity.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
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    165 views11 pages

    Wages and Salary Administration

    Uploaded by

    abhimanyu1308
    Wages and salary administration refers to establishing and implementing sound policies and practices for employee compensation. It includes areas like job evaluation, wage and salary surveys, developing and maintaining pay structures, establishing wage payment rules, incentives, and controlling compensation costs. The purposes are to eliminate inequalities, minimize favoritism, increase motivation, plan labor costs, explain pay basis, reduce grievances, and attract qualified personnel. Principles include flexibility, job evaluation basis, conformity to plans and social objectives, responsiveness to changing conditions, and simplicity.

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    of 11

    Wages and

    Salary
    Administration
    Dr. Anil Mehta
    …refers to the establishment of
    implementation of sound policy and
    practices of employee compensation . It
    includes such areas as job evaluation,
    survey of wages and salaries analysis,
    development and maintenance of wage
    structure, establishing rules for
    administrating wage payments,
    incentives, profit sharing, wage changes
    and adjustments, supplementing
    payments, control of compensation costs
    and other related areas.
    Purposes
    •Eliminates inequalities
    •Minimizes chances of favoritism
    •Establishes sequences of jobs and lines of
    promotions
    •Increases employees motivation and morale
    •To plan and control labor costs
    •To explain basis of wage payment
    •To reduce frustration and grievances
    • to attract qualifies personnel
    Principles
    •Sufficiently flexible
    •Based on job evaluation
    •Consistent with overall organizational plans
    and programs
    •In conformity with the social and economic
    objectives of the country
    •Responsive to the changing local and national
    conditions
    •Simplicity
    Components Of Employee Remuneration

    Remuneration

    financial NF

    Fringe Benefits Perquisites Job Contents


    Hourly and Incentives PF Company car Challenging
    Monthly Rated Individual plans Gratuity Club Job
    Wages Group plans Medical care Membership Responsibilities
    Salaries Accident relief Paid holidays Recognition
    Health and Furnished house growth
    Group Stock option prospects
    Insurance etc Schemes
    etc.
    Influencing factors of Remuneration
    Remuneration

    External Internal
    Labour Market Business
    Strategy
    Cost of living
    Job
    Labour Unions
    evaluation and
    Government Legislations performance
    appraisal
    Society
    Economy The Employee
    Devising a Remuneration Plan

    Job Description

    Job Evaluation

    Job Hierarchy

    Pay Survey

    Pricing Job
    Challenges of Remuneration
    Skill based
    pay

    Employee Salary
    participation reviews

    Remuneration

    Comparable Pay
    worth Secrecy
    Concepts of Wages
    Minimum Wages
    Fair Wages
    Living Wages
    Wage Policy in India

    • Payment of Wages Act 1936


    • Minimum wages Act 1936
    • Industrial Dispute Act 1947
    • Equal Remuneration Act 1976
    • Payment of Bonus Act 1965
    • Wage Boards
    • Pay Commission

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