IMPACT OF WAGES AND SALARY ADMINISTRATION AMONG EMPLOYEES

Over the past few years, a body of knowledge has been accumulating on the process of determining how much individual employees are to be paid. This field of knowledge has been developed largely by employees working alone, to some extent by employers and unions. The name usually attached to it is "Wage and salary administration". The wage and salary administration deals with techniques and procedures for designing and maintaining salary structures rewarding staff and exercising wage control. The basic aim of wage administration is to attract, retain, and motivate employees by maintaining a competitive equitable wage structure. It is concerned with the design and maintenance of wage structure, the operation of a wage progression system, the provision of employee's benefits and other allowances, and the development of a total remuneration policy. Wage and salary are remuneration, that an employee receives as compensation in return for his or her contribution to the organization. Remuneration occupies an important place in the life of an employee.