Wage and Salaries Issues
To employers, wages are part of production costs, which they try minimizing to increase profit margins. An organization’s ability to compete in the market and the pricing policy are significant determinants of wage variations by management (Arsov et al., 2018). Maintaining a competitive industry position by keeping competitive labor costs in production and successfully pricing their product within the industry is the management’s top aim. Union wages concerns are employees centered, and they call for fair pay for fair work done. First, proper treatment and honesty are prime expectations of every employee in an organization. In labor relations, economic benefits and wages are the core aim of collective bargaining. Secondly, the slogan “equal pay for equal work” is used by unions and management as a guide to follow and aimed to remind them employees expect to be maintained. As far as pay grades are fairly structured and evenly executed, workers usually accept differential pay based on internal wage levels and job classification.
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