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Explain Wage & Salary Administration

Wage & Salary Administration: Wage and Salary administration is the procedure of compensating an organization's staff in accordance with accepted procedures and policy. The  significant component of a successful organization's wage and salary administration policy is monitoring and computing all employees' compensation to make sure that they're being paid suitably, both with respect to others in the similar organization and to the market place as an entire. Wage and Salary administration is frequently an integral function of the organization's human resources department, however in general, the bigger the organization, the more likely is that it will be handled by the separate department.

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