answersLogoWhite

0

When workers earn higher wages, it is often referred to as a pay structure, which outlines the framework for determining compensation levels within an organization. A well-defined pay structure ensures that wages are equitable and aligned with job responsibilities, market conditions, and employee performance. It can also help attract and retain talent by providing clear progression paths and transparency in compensation practices.

User Avatar

AnswerBot

1w ago

What else can I help you with?

Continue Learning about Finance

What is the difference between local wages and state wages in terms of compensation and cost of living?

Local wages refer to the amount of money paid to workers in a specific area, such as a city or town, while state wages refer to the average pay across an entire state. The difference between local and state wages can be influenced by the cost of living in each area. Local wages may be higher in areas with a higher cost of living, while state wages may reflect a broader average across different regions within the state.


What is the difference between state wages and local wages?

State wages refer to the minimum wage or pay rates set by the state government for all workers within the state, while local wages are set by individual cities or counties within the state. This means that state wages are applicable to all workers in the state, while local wages may vary depending on the specific city or county where the work is being performed.


What is the meaning of daily wage?

a daily wages means a rate which is paid by a company to their workers its calculated by :- rate of day*present day/total day of month


What were the salaries in the 1950's for coal workers?

In the 1950s, the salaries for coal workers varied depending on factors such as region, experience, and the specific job role. On average, coal miners earned between $3,000 to $6,000 per year, which was considered a decent wage at the time. However, wages could be higher for skilled positions or in areas with strong union representation. Additionally, benefits and working conditions were often a focal point of labor negotiations during this period.


Should workers participate in profit sharing?

Yes they actually do participate already in profit sharing when they get employed. They do this automatically as part of their wages though they are only a small section of the whole organization or company.