Jay’s father owns a foot ware company and quite a lot of their employees are working on retainer basis. The industry is pretty unorganized and hence a lot of attrition rate is observed. Jay’s father is seen struggling with keeping the employees from absenteeism and taking long leaves. Jay joins him post his Masters in HR and wants to suggest his father a revision in working structure by engaging the employees into full time employment and working out a robust wage structure. Please answer the following questions in light of this case.
a. Elaborate on the steps in wage and salary administration. (5 Marks)
b. List and describe three broad principles for wage and salary administration.