Factors influencing wage and salary structure and administration

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Factors influencing wage and salary structure and administration

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For more Notes, Presentations, Project Reports visit a2zmba.blogspot.com hrmba.blogspot.com mbafin.blogspot.com

Is Compensation = My Inputs and Contributions

Factors influencing wage and salary structure and administration The organizations ability to pay; Supply and demand of labour; The prevailing market rate; The cost of living; Living wage; Productivity;

Factors influencing wage and salary structure and administration Trade unions bargaining power Job requirements Managerial attitudes Psychological and sociological factors Levels of skills available in the market

Administration of Wages and SalariesHandled by: Personnel department Or committee whos major functions are Approval to management on job evaluation methods Review of basic wage and salary structure Help in the formulation of wage policies Co-ordination of relative departmental Review of budget estimates

PRINCIPLES OF WAGES AND SALARY ADMINISTRATION Pays varies as per skills required General level of wages should be proportionate with existing labour market rates Equal pay for equal work

CASE STUDY

MTB PRIVATE LIMITED

MTB PRIVATE LIMITEDFacts File: Employee strength=400 2nd largest cloth manufacturing company in Nashik. Contractual and Permanent type of labour

HORROR STORIES IN INDIA BHARAT OPTHALMIC GLASSES National Textile Corporation Hindustan Fertilizer Corporation Ltd. Haldia Heavy Engineering Corporation

Wage Policy in India Minimum Wage Fair wage Living wage

State regulation of wages Minimum wages act, 1948 Payment of Wages Act, 1936 For more Notes, Presentations, Project Reports visit a2zmba.blogspot.com hrmba.blogspot.com mbafin.blogspot.com