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Sagot :
The value of a job and the employer's capacity to pay are examples of internal factors that affect wage rates.
The compensation rules, organizational ability to pay, job analysis, job descriptions, employee, and trade union negotiating power are a few internal elements that have an impact on pay structure. One of the main areas of contention between employers and employees is compensation. Employees offer their services to the company; they give the organization their time, effort, skills, and knowledge. Employer rewards employees for their dedication by paying them.
The amount of compensation given to the employee depends on his skill, the type of work he does, and how much effort he puts in. In addition, a number of additional internal and external factors also influence compensation.
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