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8/13/2019 Factors Affecting Wage &Salary
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wage &salary Administration.
Name-pallavi suresh khot
Roll no-13MBA26
8/13/2019 Factors Affecting Wage &Salary
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Definition-
Wage -
wage &salary are often discussed in loosesense, as they are used interchangeably. But Indianlabour organisation (ILO). Defined the term
remuneration paid by the employer for the servicesof hourly ,daily , weekly and for nightly employees . Italso means that remuneration paid to production&maintenance or blue collar employees .
Salary
The term salary is defined as the remunerationpaid to the clerical & managerial personel employedon monthly or annual basis.
8/13/2019 Factors Affecting Wage &Salary
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Objectives of wage &salary
administration
To acquire qualified competent personnel.
To retain the present employees.
To secure internal & external equity.
To ensure desired behaviour.
To keep labour &administration costs.
To protect in public as progressive employers.
To pay according to the content & difficulty.
To simplify collective bargaining .
To promote organisation feasibility.
8/13/2019 Factors Affecting Wage &Salary
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Factors affecting wage & salary-
Remunretion in comparable industries
Firms ability to pay.
Productivity. Union pressure & strategies .
Government legislation.