HRMT-318 Lecture Notes - Lecture 6: Job Evaluation
25 Mar 2016
School
Department
Course
Professor
Document Summary
Consists of base pay in the form of wages or salaries, incentives, and benefits provided by law and/or agreement and by the management of an organization. Is the basic source to satisfy basic needs and wants as well as the means to attain the standard of living and economic security. Used to determine the wages and salaries that employees may be paid. The increase in the wages and salaries of employees should at least be equal to the increase in the cost of living. Wages and salaries paid by other companies in the same and other industries. Wages and salaries of an organization should be comparable or preferably more than those paid by other companies if qualified and competent employees are expected to work to the fullest of their abilities and stay loyal. When a demand for a particular type of labor is greater than the supply , the wages or salaries that would be paid will be higher.
