1. Kinds and Levels of Required Skills: The single most important factor influencing an individual's rate of pay is the kind of work performed./
2.Supply and Demand of Labor: Any job is worth what the marketplace will bear. Individuals with certain skills may be in varying degrees of demand.//
3.Geographic Location: Levels of employment/unemployment do not affect all regions of the nation equally.// 4. Employment Setting: There are often unique circumstances that drive salary-related decision making in different settings. //
5.Compensation Philosophy: Some employers are committed to a philosophy of paying their employees above industry or area standards in order to attract and retain the very best pool of skilled workers available.//
6. Profitability of the Organization: Employees working for a highly profitable business have a greater chance of receiving higher wages than those working for a less profitable enterprise.//
7.Employment Stability: We all want the security of knowing that we will have our job as long as we want it.//
8.Gender Difference: Although great strides have been made in assuring "equal pay for equal work," on the whole, women continue to receive lower pay than men.//
9. Employee Tenure and Performance: Traditionally, an employee's pay increases with years of service. A widely held view is that, through experience, employees become more effective problem solvers and are more dependable.
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