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Equal pay for equal work [1] is the concept of labour rights that individuals in the same workplace be given equal pay. [1] It is most commonly used in the context of sexual discrimination, in relation to the gender pay gap. Equal pay relates to the full range of payments and benefits, including basic pay, non-salary payments, bonuses and ...
Considered one of the justice theories, equity theory was first developed in the 1960s by J. Stacey Adams, a workplace and behavioral psychologist, who asserted that employees seek to maintain equity between the inputs that they bring to a job and the outcomes that they receive from it against the perceived inputs and outcomes of others. [2]
Exploitation is a concept defined as, in its broadest sense, one agent taking unfair advantage of another agent. [1] When applying this to labour (or labor), it denotes an unjust social relationship based on an asymmetry of power or unequal exchange of value between workers and their employers. [2]
The theory of compensating wage differentials, by Adam Smith, provides a theoretical framework of the ideology behind pay differences. The theory explains that jobs with undesirable characteristics will compensate with higher wages compared to the popular, more desirable jobs, who provide lower wages to its workers. [ 13 ]
Transactional management is a leadership style that focuses on the role of supervision, organization, and performance. In transactional management, leaders emphasize the exchange between the leader and followers, where employees are rewarded for meeting specific performance goals or punished for failing to meet expectations.
In labor economics, an efficiency wage is a wage paid in excess of the market-clearing wage to increase the labor productivity of workers. [1] Specifically, it points to the incentive for managers to pay their employees more than the market-clearing wage to increase their productivity or to reduce the costs associated with employee turnover .
Women have had a long history of discrimination in the workplace. Feminist theory points to the concept of a family wage—a rate substantial enough to support a man and his family—as the explanation to why women's labor is cheap, claiming it preserves "male dominance and women's dependence in the family". [126]
Performance-related pay or pay for performance, not to be confused with performance-related pay rise, is a salary or wages paid system based on positioning the individual, or team, on their pay band according to how well they perform. Car salesmen or production line workers, for example, may be paid in this way, or through commission.