Concept of Wage and Salary administration.

 There are many functions Human resource manager perform. These are procurement, recruitment, training and development, performance appraisal and wage and salary administration. Every function is important and plays an important role for the survival, growth and profit maximization of organization. Among all Wage and Salary administration is also very important function because it helps to attract potential employees towards organization. 

Definition-

Wage-The financial amount that is given to labours according to their physical contribution for the development of organization this financial amount is called Wages. 

In other words we can say that the finance that is given to workers according to their provided labour to perform the function of organization by an effective, efficient way this finance is called Wages. 

It is given to unskilled workers. It is given to daily, hourly, weekly and monthly basis. 

Salary- The financial amount that is given to employees according to their contribution of knowledge, talent, skill, wisdom and abilities this financial amount is called Salary. It is given to Fireman, Manager, professional and Technical employees. 

Nature 

1. It is in financial form. 

2. It is scientific. 

3. It is flexible. 

4. It is legal. 

5. It is a motivational activities. 

6. It is in consistent form. 

Objectives-

There are many objectives of Wage and salary administration. These objectives are as below-

1. To provide fair remuneration to all employees. 

2. To attract potential employees towards organization. 

3. To retain talented employees inside organization. 

4. To improve productivity of organization. 

5. To control cost of organization. 

6. To improve labour management relationship. 

7. To improve public image of organization. 

8. To implement government rules, regulations, law in the organization. 

9. To minimize conflict inside organization. 

10. To improve morale of employees. 

11. To implement proper financial management inside organization. 

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