Wages in India

Once jobs have been evaluated and all the points have been summed up, the next step is placing of all evaluated jobs according to points in terms of money. This is the point when rated jobs are translated into monetary values. To conduct wage survey the existing rates are taken for comparison.

The main purposes of wage survey, is to find out the fair for various jobs in order to establish the entire wage structure. Selection of key jobs whose duties are clearly defined, not unstable and mostly representing all level of jobs worth is the very first step in building a wage survey. For the wage survey two types of samples are needed. First sample of key jobs and second a sample of firms in the labor market. Jobs require different personnel, in terms of skill, ability etc and thus it varies from local to regional level. Selection of a sample of firms should be from those firms which operate under similar market conditions.

The job content and available data are carefully analyzed and averaged out, and in this way the rupee values of jobs are prepared and plotted on the chart.

By plotting key jobs against their existing wages, we get a wage trend line lies close to all the jobs plotted on the graph. The wage trend line should be drawn in such a way that it covers most of the points. Those which lie below the line should be paid more to come on the line of best fit. But simultaneously the authority and responsibility should also be increased in line with the wage increase. And as all those which are above the best fit line cannot be paid lower than the existing wage rates all such rates should be freezed.

In construction of wage structure similar jobs are grouped and treated as a job class. All the jobs, which come under that job class are paid the same wage. In the point system, suppose, 120 points to 150 points make a job class. In such case, all the jobs which fetch total between 120 and 150 would carry the same monetary compensation. The purpose of grouping of jobs is to facilitate wage administration.

Factors affecting the designing of the wage structure are:

–Labor market condition: if supply of labor is higher than demand the wage would be relatively low.

–That is, if standard of living is high it calls for higher wage.

–Wage structures of other firms in the same industry directly affect the company’s wage structure.

–Sometimes, even though the competitors pay relatively higher wage, due to weak collective bargaining power of the trade union, management may settle wage at a relatively low rate.

All wages should be paid within limits which are given by the standard set through a wage structure. A cardinal principle of wage and salary administration is that wage rate shall not be cut, as a result of installation of job evaluation. Adjustments in the total rate structure should also be similar to the percentage increment in order to maintain equitable relationship.

Improved method of ranking system is known as factor comparison system where job factors are compared rather than the whole jobs. It consists of the following steps:

–Selection of job characteristics

–Selection of key jobs

–Determination of correct rates of key jobs

–Ranking of key jobs under each job factor

–Allocation of correct rate to each key job

–Evaluation of all other jobs.

–Designing, adjusting and operating the wage structure

From the employee’s point of view wages determines his standard of living. Wage policy., therefore is an important issue and recognizing its importance the Constitution of India guaranteed equal pay for equal work for both men and women. All workers living with a wage and conditions of work which ensure a decent standard of life

Minimum wage: Minimum age is that wage which must invariably be paid whether the company, big or small makes profits or not It is the bare minimum that a worker can expect to get for services rendered by him.

In calculating the minimum wage, the standard wage, the standard working class family should be taken to comprise three consumption units for one earner, the earnings of women, children and adolescents being disregarded.

Minimum food requirements should be calculated on the basis of asset intake of calories for average adult of moderate activity.

Clothing requirements should be estimated on the basis of per capital consumption of 18 yards per annum which would give the average worker’s family of four a total of 72 yards.

In respect of housing the rent corresponding to the minimum area provided for under Government Industrial housing scheme should be taken into consideration in fixing the minimum age. Fuel, lighting and other miscellaneous items of expenditure should constitute 20 per cent of the total minimum wage.

Power of Team Work

The power of two is always more than one, since our childhood we are taught the importance of team and united effort. Big organizations always lay heavy emphasis on team building and almost all the leaders share their success on the work front with their team mates. Such is the power of team wok that it can make a tough task easier. People often talk about the team and the usefulness of them but few know how to build a successful team. To be a part of team and to play your contribution successfully in a team effort it is a must to understand the objectives of the organization.

Success or failure of a team effort is equally shared by all the team members. One of the biggest characteristic features is that all members work for the same goal and each member knows his role in any given situation. When more number of people put their best to achieve something common it automatically becomes something substantial and meaningful. A good team always works in great synchronization and it is the team spirit that makes a particular task easy for any team. A team can achieve its goal only if each member of the team know their part and play their role with full sincerity. The purpose of team is to fully explore the available human resource to get the most of them and achieve bigger objectives that are not attainable by individuals on their own. Team effort increases efficiency, it saves time and resources as well.

It is a known fact that to achieve something big and significant we have to work in a group and it is always the team effort that gets success in achieving bigger goals and objectives for the organization. Executives try different methods from time to time to motivate the people and inspire them to give their best in a team effort. It is the responsibility of an executive to diagnose the team from time to time and introduce team improvement efforts for a better outcome. To get the most from your team it is very important to provide your team a clear goal. Teams that work in doubt always miss the goal whereas a team which is sure about its context and know the expectations always give their best.

The success of a team is largely decided by the vision of the leader. If the leader knows the expectations and motivates its team members in the right direction then no task is a tough task for the team. It is very important to clearly convey to the team the objective of the task; unless and until the team members are aware of their role and objectives they will not be able to give their best. The team should know its role and importance in the accomplishment of an objective.

The success of any team task is largely decided by the commitment level of its members. Your team members should value the importance of a given task and should play their part with full sincerity without having any doubt of its purpose or success. A committed team can achieve impossible dreams but a team that lacks vision and commitment can lose even the most fruitful opportunity.

A team that has competent members can achieve the objectives easily in comparison to those who lack competency and show a laid back attitude in any given situation. It is the responsibility of the team members to come forward with their own vision and skills to solve any given problem and synchronize it with the vision of the team for faster and better results.

A team that is tightly bound and controlled will not be able to give its best, it is very important to practice control intelligently so that team members will know their role and responsibility in achieving any goal. A team that is controlled smartly will achieve its goal in a given timeframe without wasting their resources. It is the quality of control that decides the excellence in achievement. Team members should understand their responsibility and accountability. Self management is necessary for the success of team effort.

A team that fails to build effective communication with its members and authority will never be successful in its long term goals. It is very important to follow a healthy communication practice. For better optimization of information it is very important to communicate smartly with the concerned authority and the team members.

A team with creative and innovative vision can come up with a better solution and a good team leader always motivates its team members to come forward with an innovative and unique problem solving approach.

Teams should always support innovative and creative approach. New ideas and unique thinking motivate people to come out with a better solution and good leaders always support their team members for innovative thinking.