| Fixation of compensation or wage rates
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| | job requirements of job. Due
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| for different categories of employees in
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| | consideration should be given to such
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| a company is an important task of
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| | factors as skill, length of time required
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| management. The employees are not only
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| | in learning, versatility required and
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| concerned with the wages received but
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| | working conditions. In all fairness to
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| also concerned with the level wages
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| | management, the plan should usually
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| received by same level of employees in
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| | result in a reduction of unit cost of
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| similar organizations. Hence wage
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| | manufacture, making possible lower prices
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| structure may be considered very
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| | and higher profits.In all fairness to the
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| important. The relative wage-rules must
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| | consumers a share of higher efficiency
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| be fixed carefully, because they have
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| | should be passed on to them by way of
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| implications for promotion, transfer,
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| | lower price. This will be possible when
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| seniority and other important personnel
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| | there is reduction in cost due to higher
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| matters.Wage plan should possess certain
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| | efficiency. Thus the wage plan must
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| fundamental characteristics if the long
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| | ensure that all participate share the
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| term interests of the worker, management
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| | gains of higher productivity. The wage
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| and the consumer are to be served. The
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| | plan should include an incentive system
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| wage plan must be linked with the
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| | for the efficient workers. The system
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| productivity of the workers. Unless
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| | should ensure higher pay to the workers
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| higher pay scales of workers are linked
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| | who perform work at higher level of
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| in some way to the productivity of
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| | efficiency. The wage plan should
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| workers, a wage plan will not be fair
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| | guarantee minimum wage to protect the
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| either to the management or to the
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| | interest of workers against conditions
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| consumers.Basic wage for each job
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| | over which they have no control.
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| classification should be related to skill
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