Factors influencing wages and salary administration
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(i) Labour Unions
(ii) Personal perception of wage
(ii) Personal perception of wage(iii) Cost of living
(ii) Personal perception of wage(iii) Cost of living(iv) Government legislation
(ii) Personal perception of wage(iii) Cost of living(iv) Government legislation(v) Ability to pay
(vi) Supply and demand
(vii) Productivity
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Managements, however, do not come forward to pay higher wages because cost of production goes up and profits decrease to that extent.Workers are very much concerned with the rates of wages as their standard of living is linked to the amount of remuneration they get.
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