Wage and Salary Administration
Wage and Salary Administration
A Presentation on
Wage & Salary AdministrationAn integral part of
management.Systematic approach to provide monetary values to
employees.It is Administration of Employee Compensation.Aims to
establish and maintain an equitable wage and salary structure.
DefinitionAccording to D.S. Beach-Itrefers to the establishment
and implementation of sound policies and practices of employee
compensation. According to Bewath and Reins-It is essentially the
application of a systematic approach to the problem of ensuring
that employees are paid in a logical, equitable and fair manner
Wage Salary & Compensation
Wages
Paid to Blue Collared employees.
Daily, Weekly or Monthly work paid.
For jobs which can be measured to some extent in terms of moneys
worth.
Salary
Paid to White Collared employees.
Paid monthly, or bimonthly.
Contribution of work can not be easily measured.
Compensation
Compensation is a comparative term.
It includes wage and all other allowances and benefits like
allowances, leave facilities, housing, travel and non-cost such as
recognition, privileges and symbols of status
Concept of Wages
Objectives
Establish fair and equitable compensation.Attract competent and
qualified personnel.To retain present employees.To keep labor cost
align with organization ability to pay.To improve motivation and
morale of employees.To project good image of the company.To
minimize chance of favoritism.
Principles
Interest of all the parties should be considered.Wage Plans
should be flexible and responsive to changes.Differences in wages
should be based on logical facts.Consistently align with
organization plan.Expedite and Simplify administrative process.In
line with prevailing market rates.
Factors Affecting
External Factors
Internal Factors
ProcessWage Administration Rules
Types of Wages
Wage Incentive Plan
Submitted to-
Dr. Praveen SaxenaSubmitted by-
Anjali Patel
Thank You
