Ms. Shubhangi Chourasia

Abhishek Bhandari

Pratik Badgujar

Dr. G D Thakar

Dr. R C Gupta

Abstract

One of the major problems that confronts the management of every company is the determination of satisfactory wage structure. Wages constitute an important aspect in the whole gamut of labour and management relations. A well-designed wage structure is an important factor in worker satisfaction. In this paper an application of a point rating plan for job evaluation and establishment of a fair wage structure for a leading PVC pipe manufacturing company has been discussed. The objective of the present work is to establish a fair and workable system of wage differentials between various jobs in the organization and to sort out wage anomalies between similar jobs. Point rating method was used here. The method resulted in establishment of grades of jobs in the organization and consequently the wage structure.

Keywords- Job evaluation, Point Rating plan, job factors, wage structure.