HRM- CHAPTER 7

Anndrea S. Galupo · 22問 · 1年前

通報

問題一覧

deal with the payment of labor employed in competitive enterprises.

WAGE THEORIES

These are the contributions or the shares paid for the value of land, capital, and profits

WAGES

What are the theories of wages?

CLASSICAL WAGE THEORY, THE JUST WAGE THEORY OF ST. THOMAS AQUINAS, THE WAGE FUND THEORY, BARGAINING THEORY OF JOHN DAVIDSON, THE MARGINAL PRODUCTIVITY THEORY, THE PURCHASING POWER THEORY, LABOR THEORY OF VALUE AND THE STANDARD OF LIVING THEORY OF WAGES

This theory is based upon the fundamental concept that labor is a commodity and we have to pay the price according to supply and demand. When the labor supply is greater than the demand, the lower the price and when there is greater demand the higher the price.

CLASSICAL WAGE THEORY

It described as a wage which permits the recipient worker to live in a manner in keeping with his position in society. This doctrine is related to social organization based on the individual in the social organization.

THE JUST WAE THEORY OF ST. THOMAS AQUINAS

expounded by John Stuart Mill and his followers is based on the Malthusian theory of population and the law of diminishing returns. This theory holds the idea that the working capital of the nation provides a fund from which wages can be paid. The fund is to be divided by all the workers proportionately. When a certain group gets a greater share of the total fund, the rest of the group will have less to share. An increase in the wages of some through collective bargaining or any other pressures will adversely affect the wages of others.

THE WAGE FUND THEORY

The wage fund theory was expounded by whom?

JOHN STUART MILL

It proposes that labor is a commodity like anything that could be bought at a price by the user. As a commodity, it carries with it a price that is determined by the bargaining process between the buyer and seller. The sellers of labor are the workers and the buyers are the users or the industries that utilize their services. The labor sets the limit of the value of their services as conditioned by the utility of reward. Such reward is conditioned by what their money can buy with the wages in the light of their actual standard of living.

BARGAINING THEORY OF JOHN DAVIDSON

It offers the best explanation of the wages in modern industry. The supply of labor in any given economy on the whole depends upon the total number of individuals who want to work and are available for work. Worker's mobility, which is the transfer from one company to another due to opportunities in the other company, affects the structure of wages in the industry. It is not only the difference in wages that makes the employee transfer to another company. Better opportunities for advancement, more benefits, a better working environment, or even the corporate atmosphere are other factors that affect mobility.

THE MARGINAL PRODUCTIVITY THEORY

It tries to establish the relationship between wages and the level of economic activity. The level of economic growth is dependent upon the savings generated because the increase in wages creates a surplus that propels growth. The more income the worker gets, the bigger the purchasing power of the workers; then this increases consumption of goods and services. Increased consumption of goods generates employment opportunities.

THE PURCHASING POWER THEORY

Karl Marx propounds this theory of labor. This gives credence to the value of labor. It emphasizes that labor is the source of all products and that without this important component, there could be no goods for human consumption. Every good that is produced could be traced back to the participation of the worker and, therefore, labor must get the greater share of the profit. This is the philosophy of some organized labor groups who are more active in the greater share of the profits of the company operations

LABOR THEORY OF VALUE

Who propounds the Labor theory of value?

KARL MARX

it means that wages should be based on the cost of living. The cost of living is dependent upon the economic needs of the family for the necessities of life food, clothing, and shelter. While the philosophy is economically sound for the improvement of the living conditions of the labor force, it is counterproductive due to the forces of global economic activity.

THE STANDARD OF LIVING THEORY OF WAGES

Once the worth of a job has been established using one of the job rating systems, the actual salary to be paid to each job must be determined. A major factor in making the determination is the _______.

WAGE SURVEY

It may be conducted through telephones and informal interviews

INFORMAL SURVEYS

In this survey method, the Human Resource Department prepares a set of questionnaires incorporating common jobs present in the company and is comparable with other jobs in other industries.

FOMAL SURVEY

An examination of the graph will indicate the trend of the data plotted. A line is drawn to indicate this trend, using one of the following techniques:

EYE INSPECTION, THE LEAST SQUARES AND THE SECOND DEGREE CURVE

The line is drawn freehand so that about the same number of data points fall above the line. It follows the general trend of the data. This technique is the least scientific and reliable as this does not require scientific computations. It is more of a judgmental analysis that is used only by experts in the field of job evaluation.

EYE INSPECTION

This uses the statistical formula; the trend line will normally follow a straight path. It presents more accurately the relationships between the peso or money value and the points for the key jobs

THE LEAST SQUARES

Using another statistical formula; the trend line will normally take the form of a curve and may more accurately indicate the trend of the data.

THE SECOND DEGREE CURVE

It is the hierarchy of jobs to which the pay rate is attached.

WAGE AND SALARY STRUCTURE

It is the establishment of the job classes and rate ranges. All jobs within a class are treated in the same way for the purpose of economic administration. Pay structure ranges should be used in developing a schedule for both rank-and-file employees and technical and managerial positions.

WAGE STRUCTURE DESIGN

When employees' salaries fall below the minimum of the pay grade for the job, then it is called what?

GREEN CIRCLE RATE

It is the range of the salary that is paid to an employee doing similar functions that has a minimum and maximum pay and a series of step adjustments. It is to provide adjustments in pay for performance evaluation without distorting the salary pay plan.

SALARY RANGE

Another reverse situation is when the employee with high seniority, is either competent or has received ao many increases that his salary is above the maximum of the pay grade. This is called what?

RED CIRCLE RATE

The main purpose of it is to have a systematic method of payment to ensure that employees receive a fair wage and salary for the work they perform

FORMAL WAGE AND SALARY MANAGEMENT

What are the 2 methods in paying salaries?

BY THE TIME WORKED AND BY THE AMOUNT OF WORK PRODUCED

earnings do not fluctuate with the amount of work performed or with the quality of output. In this method, wages are computed in terms of units of time. It is common to pay workers by the day and the term day-work was adopted

BY THE TIME WORKED

Paying by the time worked is called __________ because the method of calculations will not immediately result in more money. No matter how hard an employee works during an hour, the pay will be computed by the hourly rate and no more.

NON-INCENTIVE WAGE PLAN

earnings depend on how much work the employee completes or on a related factor, such as the quality of work.

BY THE AMOUNT OF WORK PRODUCED

By the amount of work produced is also called what?

INCENTIVE WAGE PLAN

It is a common incentive plan, these are determined by the number of pieces produced or completed and each piece is assigned a piece value that is called piece rate.

PIECEWORK SALARIES

The company or any organization must have a clear-cut wage and salary policy. These policy guidelines will help the organization have better relationships with employees and develop a more comprehensive employee financial planning program.

WAGE AND SALARY POLICIES

What are the morale renewal in the work place?

KNOW THAT LEADERS HAVE LIMITATIONS, CHOOSE CHARACTER, WALK THE TALK, AVOID COMPROMISING, USE THE SAME MEASURES ON YOURSELF, FACE THE MIRROR, SHOW THE MIRROR TO YOUR LEADER, DON'T JUST ADMIT MISTAKES; CORRECT THEM, HAVE AN IMPROVEMENT PLAN, AND REBUILD AND DO NOT SLIDE BACK

Steve Berglas of the Harvard Medical School believes that "people who achieve great heights but lack the bedrock character to sustain them through the stress are headed for disaster." He predicts that one or more of the four could result when a leader does not have the requisite character - arrogance, aloneness, adventure-seeking, or adultery.

KNOW THAT LEADERS HAVE LIMITATIONS

John C. Maxwell is right in his observation that, "We have no control over a lot of things in life. We don't get to choose our parents. We don't select the location or circumstances of our birth and upbringing. We don't get to pick talents and IQ. But we do choose our character. In fact, we create it we make choices." In the workplace, you can create your own character. Do you want money or work for it? Do you keep the right company? Do you stand by your principles? You can if you choose to.

CHOOSE CHARACTER

Integrity is important in the workplace. In fact, many employers prefer to have employees with integrity first, then skills second. Skills can be taught but integrity is innate in one's character.

WALK THE TALK

While life is not black or white but shades of gray, there are instances when you have to choose between right and wrong. A wrong can never be right even if a compromise is reached. If workers really want straight leaders, they must be vigilant and uncompromising in asserting their rights as well as in performing their responsibilities. When compromises are made, the rest of the organization, the buying public, and the society are affected.

AVOID COMPROMISING

You want a leader who is not immoral, corrupt, or incompetent. Exact the same measure or standards on yourself. Be as harsh on yourself as you are in judging others. That you are just a follower is never an excuse for being lazy, incompetent, or immoral.

USE THE SAME MEASURES ON YOURSELF

If you want one less scalawag in the workplace, reform yourself. Look for areas for improvement in your character. If you have the guts, ask somebody you trust to tell you what is wrong with your character. Take the feedback positively as a gift for your improvement. Don't rationalize but instead work at developing a better you

FACE THE MIRROR

If you want honest and concerned leaders, you might just have to show them the mirror too. Some of them might have blind spots and can't see their mistakes, shortcomings, and transgressions. Remember that tyrants happen only when the leaders blindly accept tyranny or do not do anything about it. To make leaders honest, they must know that they are also being watched and evaluated and that positions and possessions are only temporal and ephemeral.

SHOW THE MIRROR TO YOUR LEADER

People who do not know that they are wrong cannot be corrected. The first step towards any form of renewal is an admission that there is a need for correction.

DON'T JUST ADMIT MISTAKES; CORRECT THEM

Do not leave the matter of improving yourself. Moral renewal does not happen by accident. You must exert deliberate effort to mend the crack in your character. Task yourself to show improvement. Have reasonable milestones that you must monitor and check regularly, then celebrate your little victories. But do not boast about your achievement if humility is a virtue you are trying to instill in yourself.

HAVE AN IMPROVEMENT PLAN

Set your mind toward the future. Stop going back to your past, except to see how much you have progressed. Let your guideposts be milestones in the future and not how you were before. If you have improved in a facet of your character, make sure that you don't slide back. Be not like the dog that eats his own vomit. Never underestimate what ordinary people can do, especially when they heed the call of one leader who was killed in Dallas, almost decades ago,"...ask not what your country can do for you; ask what you can do to your country."

REBUILD AND DO NOT STEP BACK

In the past, we used these 3 to describe the type of vocation

BLUE COLLAR, WHITE COLLAR AND PINK COLLAR

Manual laborer

BLUE COLLAR

Office worker

WHITE COLLAR

Job associated with women like nursing, secretarial, etc. This, being a rather sexist term, is no longer used.

PINK COLLAR

What are the 3 labor grades?

SKILLED LABOR, UNSKILLED LABOR AND PROFESSIONALS

these are workers who have received specialized training to do their jobs. They have developed and honed a special skill and may or may not need to be licensed or certified by the state. Examples are carpenters, plumbers, electricians, business executives and managers, artisans, accountants, engineers, police, mechanics, etc. These may be blue or white-collar workers.

SKILLED LABOR

These are workers who have received no specialized training and have few specific skills. As our society has grown into an increasingly technological one, the members of this group have developed more and more skills.

UNSKILLED LABOR

Arguably the elite of the labor grades, these are those workers who need an advanced degree to do their jobs. The three primary groups of professionals are doctors, lawyers, and teachers. These are white-collar workers

PROFESSIONALS

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