Question
In: Operations Management
Ethics/Conduct of Business - Employment Rights What should workers’ wages be compared to in order to...
Ethics/Conduct of Business - Employment Rights
What should workers’ wages be compared to in order to determine if they are just?
Solutions
Expert Solution
With respect to the just
compensation, workers’ wages should be either at par or above the
benchmark wage of the particular industry. Further, the wages of
the workers should be aligned with the company’s profitability and
some part of the profits in the form of bonus, dividend or stock
options, should be given to the workers. Besides, a just wage
should have different components to take care of health needs of
the workers and their dependents, leaves and other amenities that
are either prescribed in labor laws or the best practices being
followed by the top organization. It helps the organization to
become ethical and responsible to deliver different employment
rights to the workers.
Hence, workers’ wage should be compared, with the industry
benchmark compensation, degree of linkage with the company's
profits, incentives and other fringe benefits issued to the
employees to identify the level of just in the wages given to the
workers.
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