Wage payment system consists of the pay structures and the methods used to motivate and reward work force for their contribution to the goals of the organisation. Various systems of the wage payments have been developed in different industries and in different countries. All of these systems may, however, be regarded as variants or combinations of different principles of time-rate [...]
Wage differentials bear a direct relationship to the diversity in occupation and industries that exist in the economic sphere of activity in a country. A certain job requiring a certain skill is paid more or less than another job requiring a different skill either in the same or some other industry. Wage differential refers to differences in wage rates due [...]
Everything you need to know about wage policy. The term "Wage Policy" refers to legislation of government action undertaken to regulate the level or structure of wages or both for the purpose of achieving specific objectives of social and economic policy. The social and economic aspects of wage policy are normally inter-related measure inspired by special considerations; inevitably have economic [...]