Salaries. is a general term that you could use in any business, to describe the money that you receive from your employer as remuneration for doing your work. If you’re an office clerk, it’s salaries. Manual workers often get wages, or salaries.
When you’re talking about the actual money that somebody gets paid, the plural is much more common than the singular. It’s estimated that nearly nine out of every ten dollars that are paid out by companies are salaries. The number is even higher for the sales force. In addition to this, many industries have their own system of paid holidays, sick days, insurance and pension plans, paid vacation, and paid training. The numbers are certainly higher for people who work in businesses.
Market forces are one thing that dictate salary ranges. The pay scale for some occupations may be affected by the economic conditions in the particular country, state, district, etc., as well as local needs and desires. For example, some large employers that are internationally based may choose to pay their workers salaries that are higher than the national average, in order to attract and retain the best workers.
Market forces are also related to both the demand and supply of labor. If there are more people looking for jobs, then salaries will go up. If there are fewer people willing to work, wages will decrease. There are other things that affect the cost of a paycheck, such as how many hours a person works, how many hours they work, what type of job, the hours worked, whether a person is self-employed, and so forth. In fact, market forces are a key part of all of our lives, as they affect everything from the cost of things we can shop for to the cost of our vacations.
Unfortunately, the market forces that set wages do not always benefit all employees. Often times, low paid employees are forced to take on extra jobs to make ends meet, and in the process, they may have to accept lower compensation. Sometimes, the compensation that is offered to a salaried employee may not even be reflective of his or her true worth. As a result, people working the wrong job may still see their wages lowered by market forces.
So, how should salaried employees handle this? They must learn to be proactive in ensuring that they are getting the appropriate compensation for their work. If they feel like they are being shortchanged, then it is time to get together with a small group of people who understand the process and know how to speak with management about the concerns of salaried employees. With the right group of people, you can ensure that the company you work for does not see your compensation drop because of market forces. It is in your best interest to know exactly what you are being paid for, so you will not have to be taken advantage of by a company that is shortchanging you.