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A pay scale (also known as a salary structure) is a system that determines how much an employee is to be paid as a wage or salary, based on one or more factors such as the employee's level, rank or status within the employer's organization, the length of time that the employee has been employed, and the difficulty of the specific work performed.
Jobs with high prestige are more likely to have a higher level of pay stability, better lateral career mobility, and established professional associations. Some popular scales that are used to measure SES include the Hollingshead four-factor index of social status, the Nam-Powers-Boyd scale, and Duncan's Socioeconomic Index.
The pay scale was originally created with the purpose of keeping federal salaries in line with equivalent private sector jobs. Although never the intent, the GS pay scale does a good job of ensuring equal pay for equal work by reducing pay gaps between men, women, and minorities, in accordance with another, separate law, the Equal Pay Act of 1963.
Job resources: physical, psychological, social, or organizational aspects of the job that are either: functional in achieving work goals; reduce job demands and the associated physiological and psychological cost; stimulate personal growth, learning, and development. Examples are career opportunities, supervisor coaching, role-clarity, and ...
According to the Committee on Scientific Awards, Holland's "research shows that personalities seek out and flourish in career environments they fit and that jobs and career environments are classifiable by the personalities that flourish in them". [13] Holland also wrote of his theory that "the choice of a vocation is an expression of personality".
Quality of working life (QWL) describes a person's broader employment-related experience.Various authors and researchers have proposed models of quality of working life – also referred to as quality of worklife – which include a wide range of factors, sometimes classified as "motivator factors" which if present can make the job experience a positive one, and "hygiene factors" which if ...
Accounting employee's reciprocity and fairness concerns can help design better contracts (e.g. trust contract, bonus contract) to enhance employee's effort and to solve firm's agency problems. Moreover, the design of relative pay in the workplace can affect employee's job satisfaction and well-being.
Salary can also be considered as the cost of hiring and keeping human resources for corporate operations, and is hence referred to as personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts. [1] A salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed.