Wages and Seniority

Paper Summary:

This paper discusses if all workers should be paid in terms of a seniority basis. It focuses on the wage distribution among top executives and their subordinates working in a company. This paper also points out the important objectives taken up to conjure an economic system of wages based not on seniority but on merit. This paper also highlights the important steps which must be taken in giving the employees of a company, salaries and benefits, which would be enjoyed by them.

From the Paper:

"In every organization, there is a common rule that personnel at higher positions are usually paid more than their colleagues at lower positions than them. Hence, it can be said that organizations tend to follow a payment system, which is based on seniority rather than on merit. As a result, people who are at the top positions such as managers, executives and CEO's generally earn good salaries with greater benefits such as bonuses, medical facilities, conveyance etc. Their subordinates in a company do not enjoy these similar advantages, wages or benefits and this has lead to discrimination among company's workers as far as wage scale is concerned. Hence, the economic system, which fosters such notion of paying company's employees on seniority basis, should be modified into a system, which gives preference to merit. This change can only be accomplished by thoroughly reviewing the current economic system and then integrating it."

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