Employee Attitudes Towards Pay By Marx Essay

“Incentives are the cornerstone of modern life”(Levitt and Dubner 12). Levitt and Dubner once mentioned in their book “Freakonomics”. According to Oxford dictionary, incentives are something tends to incite to action or greater effort, as a reward offered for increased productivity (“incentives”). In business field, incentives are something given by bosses to encourage their employees to endeavour in bringing benefits to their business. For a simple example, the employee who hits the monthly or year sales target will get cash or prizes as incentives. Apparently, these incentives are something that motivates employees maintains their great performance and also to motivate other employee, whoever wants to get the incentives, work harder.

A recent survey conducted by Mercer Consulting Firm found that salary is the reward component most profoundly appreciated by employees; however, just 55 percent are happy with what they earn. When employees believe, they are being paid short of what

As I got older, the knowledge that my father negotiated with his very own employers in order to ensure that his coworkers would also reap the benefits the entire union fought for affected me on personal a level; to know that the man who drove me to school and bought for me school supplies each year also carried a responsibility to his co-workers made me rather proud. However, despite the fact that I grew up the daughter of a Union Steward, I also grew up as a teenager in today’s society: one that no longer suffers from such rampant corruption that induced misfortunes such as illegal instances of child labor: a calamity also solved by a committee aiming to better working standards. My view of labor has always been through rose-tinted glasses thanks to modern times; I really only knew of the exploits that my father had experienced from what he told me, forms recounting various union related news lying in heaps on the dinner table, and snippets on the news or the lightly-touched upon topics in my Consumer’s Education

“Workers of the world unite; you have nothing to lose but your chains” (Engels and Marx). Peter Georgescu, author and chairman of Young & Rubicam wrote the article “Capitalists, Arise”. Capitalism is a political system famously known for letting individuals own things such as businesses and property instead of the government. In his article, Georgescu tries to inform the readers about the widening wage gap. He also explores the idea that big businesses need to improve wages for workers so that the standard of living can improve for everyone in capitalist America. He does this through tone, diction, and rhetorical devices.

Employees who feel their salaries are fare are less likely to be distracted in their job; they are more likely to focus on achieving targets.

The Industrial Revolution marked a switch from mainly an agrarian economy to standardized, mass production economy. Businesses increasingly focused on mechanizing and streamlining the production process by employing high-powered machinery and reducing workers to interchangeable parts. As a result, it often created poor employment and living conditions for the poor, newly arrived immigrants and the working classes; this, finally, gave rise to labor unions. The labor unions fought for higher wages, safe working conditions and fair working hours. Yet, a business's main goal is to maximize its revenue by either reducing the cost of producing goods and services, or increasing the sales of its goods and services. In the case of reducing production costs, how can a business and its union employees come to terms with balancing both their needs and desires? Because, often, the interests of companies and union workers collide, and for them to reach a settlement is a major challenge, like in the case of Postal office and its union workers.

Dating back to the eighteenth century—when labor unions originated—many workers were searching for jobs that had not yet been guaranteed, or created. Then in the nighteeth century, labor unions came to be quite notably the Knights of Labor created a social and cultural movement for the workingman. The overarching theme for all the labor unions was that working in inhabitable work environments and being under paid were simply insufferable; however, some argue the effectiveness of labor union attributing it to an economic downturn that would soon come. While on the other hand, many argue unions could help the issue between America’s largest corporations not sharing their wealth amongst those employed. Due to the right to work laws union membership

In this globalization era, as various countries see growth in their economy, there has also been significant differences in the wages set to employees in different countries. The lowest wages set by the law that are fixed to a particular amount which is also defined to be the price floor below which workers shall not sell their labor, has its own effects. The minimum wage law came into force as a matter of social justice amongst the low-wage workers, also to reduce exploitation and see that workers can afford the standard basic living expenses and necessities, not to increase the unemployment rate, indeed to increase the employment rate.

Pay and Rewards – pay and rewards attract, motivate and retain staff. The employment contract which lists rewards, whether it be pay, bonus or benefits, can remove animosity amongst employees and employers. However, recent research reveals that employees are no longer motivated by a financial reward alone, but

The Universal Declaration of Human Rights set forth by the United Nations in 1950, article 25, paragraph 1 states, “Everyone has the right to a standard of living adequate for the health and well-being of himself and of his family, including food, clothing, housing and medical care and necessary socital services, and the right to security in the event of unemployment, sickness, disability, widowhood, old age or other lack of livelihood in circumstances beyond his control” (“Universal Declaration of Human”). This declaration explains that if a person is unable to meet their basic needs while having a job then a standard wage should be enforced much like the birth of minimum wage laws. However, now minimum wage laws need to either evolve or a new mechanism needs to be put in place. In this paper is the exploration of living wages in today’s modern society and how efficient they are.

‘The essential conditions for the existence and for the sway of the bourgeois class is the formation and augmentation of capital; the condition for capital is wage-labour. Wage-labour rests exclusively on competition between the labourers. The advance of industry, whose involuntary promoter is the bourgeoisie, replaces

The rewards offered can be extrinsic such as wages, incentives and bonuses, or intrinsic such as job satisfaction, an internal feeling of worth and a sense of well being on the job.

With globalization,many changes have been brought up in the workplaces that are leading towards more flexibility and enrollment of the employees (Tong Fay and Anil Verma,2002). “According to a survey -unionized workers across Canada earned$5- 28/hour more than non-union workers; Women with unions earned more too and got paid more fairly (Why unions? ,2015)”. Thus ,it gives us an idea what changes are being brought about by the unions in comparison to non-union when it comes to the wage sector. The union workplaces give a chance to the members to bargain for their benefits which includes not only social well being but also the say,the right to speak up about their own views therefore giving them the chance to talk about their problems. The union have been progressed to give a fair wage

Firstly, according to the needs theories, “behavior as being directed toward the satisfaction of human needs” (p.166). Salary is one of the employees’ needs, but not all of the needs. As Maslow 's Hierarchy of Needs (1943) stated, people has different kinds of needs which motivate human behavior, such as physiological needs, safety needs, love needs, esteem needs and self-actualization. High payment could satisfy the physiological needs, but when an employee is satisfy with his/her salary, he/she will pursue other levels need, such as

An incentive pay program can reward employees who continue to produce superior work or encourage employees who already produce good work to best. Sometimes, use an incentive system when employees are lack of enthusiasm of getting down to work and improving things. If everyone in the same job classification gets the same pay, there is no real incentive to do an outstanding job (French, 1990). Various incentive plans used to motivate all employees such as production staff, sales staff, administrative staff and managerial and professional staff on an individual basis. To be improved employee work performance, the incentive pay programs need to be fairly matched with the employees’ expectation. Properly designed and maintained incentive pay program has the potential to increase employees’ productivity and work performance.