Lecture Topic:laboratory Human Management Site Examples of Factors That Can Affect Wage and Salary in The Laboratory

Genove, Ericka A.
LAB MAN M-4:30-6:30

BMLS II-II 04-13-20
Lecture topic:Laboratory Human Management
Site Examples of factors that can affect wage and salary in the
laboratory
Like any other work or job here are the factors affecting wage and salary in
the laboratory:
 Cost of Living- Another important factor affecting any other wage is the
cost of living adjustments of wages. This approach tends to vary money
wage depending upon the variations in the cost of living index following
rise or fall in the general price level and consumer price index. It is an
essential ingredient of long term labour contracts unless provision is made
to reopen the wage clause periodically. There are measurement problems
both in ascertaining productivity and cost of living increases. This problem
may lead to lack of understanding and unanimity on the part of the
management and the workers.
 Government Legislation- The laws passed and the labour policies formed
by the Government have an important influence on wages and salaries
paid by the employees. Wages and salaries can’t be fixed below the level
prescribed by the government. The laws on minimum wages, hours of
work, equal pay for equal work, payment of dearness and other
allowances, payment of bonus, etc. have been enacted and enforced to
bring about a measure of fairness in compensating the working class.
 Productivity: Productivity is the contribution of the workers in order to

increase output. It also measures the contribution of other factors of
production like machines, materials, and management .Wage increase is
sometimes associated with increase in productivity. Workers may also be
offered additional bonus, etc., if productivity increases beyond a certain
level. It is common practice to issue productivity bonus in industrial units.
How you perform and do your functions in the laboratory can actually
determine your pay in the laboratory.
 Cost of Training: In determining, the wages of the workers, in different

occupations, allowances must be made for all the exercises incurred on
training and time devoted for it.
 Bargaining of trade unions:The wage rates are also influenced by the

bargaining power of trade unions. Stronger the trade union, higher will be
the wage rates. The strength of a trade union is judged by its membership,
financial position and type of leadership. You should be able to determine
your position in the laboratory, higher experience, or more experience
means higher salary. There are positions in the laboratory that are
naturally of more superior than your position.
 Demand and Supply: The labour market conditions or demand and supply
forces to operate at the national and local levels and determine the wage
rates. When the demand for a particular type of skilled labour is more and
supply is less than the wages will be more. One the other hand, if supply is
more demand on the other hand, is less then persons will be available at
lower wage rates also. According to Mescon,” the supply and demand
compensation criterion is very closely related to the prevailing pay
comparable wage and on-going wage concepts since, in essence to all
these remuneration standards are determined by immediate market forces
and factors. This principle applies to how much work you perform, how
much specimen you acquire in a day, you analyze in a day and the results
interpreted in a laboratory in a day.
 Ability to Pay: The ability of an industry to pay will influence wage rate to
be paid,this can be applied in any other jobs possible and available and
even if you are a worker at a laboratory if the concern is running into
losses, then it may not be able to pay higher wage rates. A profitable
enterprise may pay more to attract good workers. During the period of
prosperity, workers are paid higher wages because management wants to
share the profits with labour. Similar to the laboratory if it the effort exerted
by the lab personnel doubled depending in the work and function they will
perform on a daily basis.
The most important factors which affect the individual differences in wage
rates are:
(a) Worker’s capacity and age;
(b) Educational qualifications;
(c) Worker experience;
(d) Hazards involved in work;
(e) Promotion possibilities;
(f) The prevailing wage in the community;
(g) Stability of employment;
(h) Demand for the product; and
(i)profits or surplus earned in the laboratory

REFERENCE/S :
Determination of wage and salary. Retrieved From:

http://www.yourarticlelibrary.com/employee-management/wages/top-8-factors-
influencing-the-determination-of-wage-rates/34666

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Genove, Ericka A.

LAB MAN M-4:30-6:30

Lecture topic:Laboratory Human Management

 Productivity: Productivity is the contribution of the workers in order to

 Cost of Training: In determining, the wages of the workers, in different

 Bargaining of trade unions:The wage rates are also influenced by the

(a) Worker’s capacity and age;

(b) Educational qualifications;

(c) Worker experience;

(d) Hazards involved in work;

(e) Promotion possibilities;

(f) The prevailing wage in the community;

(g) Stability of employment;

(h) Demand for the product; and

(i)profits or surplus earned in the laboratory

Determination of wage and salary. Retrieved From:

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