Choosing Your Salary and wage Scale In the simplest form, salary and wage are fixed payment exchanged for work done under an individual or an organization; it is the only relief workers get for their sweat after doing so much in earning a living. Every organization therefore must have scale and scheme in choosing its way and methods of payment to shore up the lives of its workers. There are some factors to be considered in hitting a reasonable and acceptable salary scale for employees. Management need to know its paying capacity and ability before processing any scheme for paying its employees. Just as the service of a cost accountant is needed in setting products and services prices for the business, organizations don’t need to toy with the fact that fixing a well tailored and management-fit salary and wages scale is important to business. You must know what comes in as a business owner in order to set a favorable salary ladder for your organization. There should always be a job evaluation and grading of salary for every business, this is because for every portfolio in every company, there are outlines of jobs to be done, one could tell that the job of an accountant is very sensitive and stressful it shouldn’t be compared with the job of a secretary therefore their salary level shouldn’t be at par. There will always be high jobs holder in every work or business. Another is skilled pay salary, where you as a manager of employee understand that some professionals in your organizations are more skilled than others in the office because of their academic exposure or qualification. There are many jobs that initially would have taken more time or funds but because of the professionals in charge, your company could turn things around in a less time with a little financial impute. This helps the organizations’ purse and it widens its wings. Some employers also pay for employee’s competence, they do not mind your job title what they want is to test you from the start of your job and evaluate your competence in handling some vital part of the business; this is how they get to make you a fixed payment. Many people in business never regard this style as professional but is what many professionals infuse into their businesses. Many employer do not care what inequality in salary payment could cost the business, what they want is just to have their way in balancing performance of workers with what they earn but it’s bitter truth that when employees who are of the same academic qualifications know there are difference in what they earn, the team work or synergy that the business needs for upliftment could disappear and this could mar the progress of the business. In this case I would like to introduce what I call class-level approach where the company draws a salary structure table in paying its workers from the superiors to the subordinate. Using this style, a company must assign the same pay to the personnel manager and the business manager for example. If the personnel person is not performing like the business or marketing manager there is always a room for change of persons and not the salary involved. Even if you are well convinced by the performance of any of your employee, the best way of adding more money to his salary is by drawing more other form of business allowances into the system so as to appreciate his effort in contributing positively to the business. Make the salary known and paint out some form of payment for the out standings. If you as an employer is confused in setting a credible salary scale or structures for your business try consult other companies dealing in same lines of business as yours, take the steps they have taken and digest it well before taken it as a form of approach for your own business. Meet with your management and accountants before enforcing that kind of system into your business, it pays to have a good understanding of your workers before embanking on any decision that could change their approach to work. Remember, to have a good business environment there must be a well paddled organizational movement to motivating your employees. It is well with business when you give it the right attention.
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