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Salary And Wages Administration Pdf

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This work is concerned with salaries and wages administration in Nigeria public sector, a case study of Olamaboro Local Government Area of Kogi State. It is on this premise that the study is set to evaluate and highlight the significances of salaries and wages as factors towards achieving the aims and objectives of an organization.

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Objectives and Principles of Wage and Salary Administration

The main objective of wage and salary administration is to establish and maintain an equitable wage and salary system. These objectives can be seen in more orderly manner from the point of view of the organisation, its individual employees and collectively. There are outlined and discussed subsequently:. The compensation system should be duly aligned with the organisational need and should also be flexible enough to modification in response to change. Achieve flexibility in the system to accommodate organisational changes as and when these take place. These variables are such as demand and supply of labour, the market rate, etc. If these variables are not kept into consideration while fixing wage and salary levels, these may be insufficient to attract and retain employees in the organisation.

Salaries and wages administration is an essential factor that determine to success and failure of any organization. This system of motivating workers is very important for every organization to take proper consideration through salaries and wages as a factor of motivation can work to some extent, which means they have limitation in motivating workers to effectively if when they are not apply in proper way. According to Edward Flippo salaries and wages administration is one of the essential ways of managing an organizations employees which is called personal management which involves planning, organizing, directing and Controlling of the procurement, development compensation, integration, maintenance and separation of human resources to the end that individual, organizational and societal objectives are accomplished. Wayne F. And it is a critical component of the employment relationship. According to John Wales , money as a factor which serves as a potential dissatisfies if not present in an appropriate quantity but starting us on essential satisfier or positive motivation.

Policies: Salary Administration

For each policy below you will find the pdf versions as well as the policy history, the statutory authority, the administrative code, previous policies and FAQs when applicable. These documents contain the policy and guidelines that define the Career Banding framework and outlines the Career Banding Salary Administration plan. This policy provides guidelines for extended work duty for critical coverage shortages in certain medically related classes. The Compensation of Foreign Service Employees Policy defines a foreign service employee, establishes compensation requirements, benefits, and tax reimbursement requirements. An overview of the compensation plan foundation for ensuring consistent and equitable application of pay decisions and the administration of pay practices.

A salary is a form of payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages , where each job, hour, or other unit is paid separately, rather than on a periodic basis. From the point of view of running a business, salary can also be viewed as the cost of acquiring and retaining human resources for running operations, and is then termed personnel expense or salary expense. In accounting, salaries are recorded on payroll accounts. Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary. Salary is typically determined by comparing market pay rates for people performing similar work in similar industries in the same region.

Employee compensation: Salary, wages, incentives and commissions

Information on this website may not reflect the current situation in Alberta. Please visit alberta. Payroll administrators process payroll information.

The following is a greeting given in one of the 20 indigenous languages recognized by the State of Alaska. Effective Jan. This amount is the least amount that can be paid to an employee as wages. Yes, but there are a few exceptions.

Compensation administration is a segment of management or human resource management focusing on planning, organizing, and controlling the direct and indirect payments employees receive for the work they perform. Compensation includes direct forms such as base, merit, and incentive pay and indirect forms such as vacation pay, deferred payment, and health insurance. Compensation does not refer, however, to other kinds of employee rewards such as recognition ceremonies and achievement parties. The ultimate objectives of compensation administration are: efficient maintenance of a productive workforce, equitable pay, and compliance with federal, state, and local regulations based on what companies can afford.

Wage and Salary Administration

Wage and salary administration is defined as the process by which wage and salary levels and structures are determined in organisational settings.

Compensation strategy

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Salaries & Wages

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Grace R. 07.06.2021 at 04:10

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