A number of factors can act as determinants of the amount of wages of employees of
Organizations in
Bangladesh. In this book we have identified the following factors that are
Discussed shortly:
1. Collective
bargaining: The bargaining power of the employees can influence the
Amount wages. If
the bargaining power is strong rate of wages is high. Other wise it may set
at low rate.
2. Company ability:
If the company has high financial ability, employee can get high
wages rate. On the
other hand, low financial ability can influence the employee to accept low
rate.
3. Labor market:
Available manpower in the labor market can increase the' bargaining
strength of
management and employee then get lower wages. Otherwise rate may be high.
4. Relative worth
or the job: High position ‘of jobs can ensure' high wages but' low
position can not
earn so. Therefore; relate worth of jobs act ,as universal factor influencing
rate of wages.
5. Changes In
price level: Due to change of price level, employees have the scope to
place demand for
wages changes. ' If price level is changed heavily, rate of wages is high
otherwise experiences
minor changes.
6. Government
legislation:' In case of public' sector dominance' wage scale is
determined and charged
by the govt. of Bangladesh. If govt. machinery act positively and
liberally,
employees get high wages.
7. State of
competition: There are many competing origination in Bangladesh . So
change of wage
rates depends on the change of
rates of other organizations. Because
management usually
follows instance of competing organizations.
8. Ability of
workers: Skills and efficiency of workers-also convince the management
for higher wage
rates. Otherwise skilled workers turnover rate may ~ high. '
9. Nature or work:
It is the ninth factor influencing the rate of wages.' If the job nature
is risky employees
get higher rate; But workers ‘in simple jobs get minimum wages.
10. Working, time:
More time for work earn higher rate. While workers who need not
work more, can not
convince the management for higher rate. Customers' pressure also can
influence to set
time for work high or less.
11. Facilities or
the jobs: Some works have higher facilities such as transfer,
accommodation,
overtime etc. The real wages of these Jobs are higher. Fewer facilities can,
earn less real wages.
12.
Scope of additional income: In some works. honorarium for extra work,
"bakhshish
", increase the rate of wages both in cash or in kind. In such eases;
employees
can
not insist for higher wages.
13
.. Preferred work: In some cases, employees prefer some work, because. of their
status,
benefits, image of the organization and so 'on. If their demands are satisfied,
they
become
happy with. a particular wages.
14.
Possibility of career development: Possibility of career development can
influence
the present rate of wages. Jobs with high possibility of career development may
initially
have low wages. The jobs, which have no future growth possibility, give high
wage . .. . rates. .
The
above-mentioned factors can determine the rate of wages in the business and
industrial
workers in Bangladesh. If all these factors behave positively, employees can
earn
high
rate of wages. If not, employees get lower rates
A number of
factors can act as determinants of the amount of wages of employees of
Organizations in
Bangladesh. In this book we have identified the following factors that are