Section One: Employee attitudes towards pay.
The Great Philosopher Karl Marx (1844, p 1) said “wages are determined through the antagonistic struggle between the capitalist and worker. Victory goes necessarily to the capitalist. The capitalist can live longer without the worker than the worker without the capitalist”. The aforementioned philosophic statement by Marx opens for many issues to be debated between workers and employers, employment cadres and employment policies. As can be seen, in the hands of the capitalists are resources in the form of pay or wages that a worker desires to have in their own hands to provide for their individual needs and wants. Henceforth, the capitalist employ workers and in turn pay wages which are an income
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The research further revealed that private sector employees would like to have their pay linked to own performance (48%), the cost of living (38%) and their organization’s performance (28%). Meanwhile, public sector workers would like to have their pay linked to the cost of living (60%), their individual performance (36%). The fact that some private company employees got pay rise in the year 2014, it is a policy action that validates private sector employees tend to yield more positive attitudes pay. The private sector employee pay and benefits are tied to individual or group performance and this is the whole reason for private companies for implementing a policy that is used to award employees who achieve the set targets. The employers know very well that this type of remuneration motivates employees to do more …show more content…
The duo further argue that incentives have been found to be the one of the means through organizations can adopt to motivate and increase their workers performance. This meams that organizations put in place monetary and non-monetary incentives to appeal to their employees to perform more. As adopted from the Pattanayak (2005, p 564), benefits are further classified into monetary incentives, tangible monetary incentives and intangible non-monetary. In essence, employees generally become happier when they get a better working conditions and benefits. As cited in Sempane, Reigner and Roodt (2002 pg 23), Locke once said “job satisfaction is a pleasurable or positive emotional state resulting from the appraisal of one’s job and job experiences”. And Linz (2002) job satisfaction is influenced by attitudes toward work and organizational
Because of the industrialization of the countries, the replacement of manual labor with the use of machinery and the division of labor, the work of the proletarian has become homogeneous. It does not contain the individuality or charm of the laborer as handmade goods do. The worker instead becomes part of the machine and is reduced to performing menial, repetitive tasks. Thus, the workman's pay rate reflects his work, and is reduced to the minimum amount needed to barely sustain them. Therefore, as the skill needed to perform the job is reduced, so does the amount of the wages.
To begin with, capitalism is a type economic system. Simply put, capitalism is the system where workers work for the capitalist and receive wages for their labor. In, Wage-Labour and Capital, Marx explains the exchange between the capitalist and their workers in regards to wages and labor. He wrote:
Karl Marx believed that the mode of production was the defining element of any period in history, and he called this economic structure the base of that society. In fact, he believed that the ideas and culture of a given stage were derived from the mode of production. He referred to ideas and culture as the ‘superstructure’, which grew up from the more fundamental economic ‘base’.
In many nations, the relationship between labor and production has often been a tense one. On one side of the equation, businesses have insisted on greater productivity at lower costs. On the other side, labor (most often in the form of labor unions) has insisted that increased productivity can be best be achieved if the workers have a reasonable “living” wage and job security (Howard 2002).
The definition of utopia is an ideally perfect place especially in its social, political, and moral aspects (dictionary.com). This paper will discuss the changes in capitalism since Marx’s critique in 1848. Marx’s fundamental critique remains correct today. Marx is still correct about his critique of capitalism because even though there have been changes made to capitalism to prevent some abuses, capitalism still produces inequality, reduces the family relationship, destroys small business, and enslaves.
Producing goods or services are dictated not by employees but by their employers. If profits exist, employers are the ones that benefit more so than the regular worker. “Even when working people experience absolute gains in their standard of living, their position, relative to that of capitalists, deteriorates.” (Rinehart, Pg. 14). The rich get richer and the poor get poorer. Hard work wears down the employee leaving them frustrated in their spare time. Workers are estranged from the products they produce. At the end of the day, they get paid for a day’s work but they have no control over the final product that was produced or sold. To them, productivity does not equal satisfaction. The products are left behind for the employer to sell and make a profit. In discussions with many relatives and friends that have worked on an assembly line, they knew they would not be ...
Karl Marx, in the Capital, developed his critique of capitalism by analyzing its characteristics and its development throughout history. The critique contains Marx’s most developed economic analysis and philosophical insight. Although it was written in 1850s, its values still serve an important purpose in the globalized world and maintains extremely relevant in the twenty-first century.
Market economies, as a whole, inherently and inevitably lead to poverty and a large class disparity. In a capitalist society, the ones who supply labor, the ones who work the hardest, are the ones who are paid the least. The owners, who are already rich, receive most of the profit and accumulate large masses of wealth. “Under capitalism workers receive only a small fraction of the wealth that they alone produce, while the lion’s share goes to the capitalist owners and to the bankers, landlords, insurance companies, lawyers, politicians, and all the other parasites who live off the back of labor and perform no useful work.” (SLP). Thus laborers are paid much less than the value of the labor that they contribute. As Karl Marx said, this is stealing, or exploitation of labor. The wages for...
Probably no other pronouncement on the social question has had so many readers or exercised such a wide influence. It has inspired a vast Catholic social literature, while many non-Catholics have acclaimed it as one of the most definite and reasonable productions ever written on the subject. Sometimes criticized as vague, it is as specific as any document could be written for several countries in different stages of industrial development. On one point it is strikingly definite: "Let it be taken for granted that workman and employer should, as a rule, make free agreements, and in particular should agree freely as to wages; nevertheless, there is a dictate of natural justice more imperious and ancient than any bargain between man and man, that remuneration should be sufficient to maintain the wage-earner in reasonable and frugal comfort. If through necessity or fear of a worse evil the workman accept harder conditions because an employer or contractor will afford him no better, he is made the victim of force and injustice.
Karl Marx's Theory of Capitalism Marxism like functionalism is concerned with the overall picture of
Companies have found that money is and important motivator for high levels of employee productivity. However, money incentives by its self may not be as affective and it may not render the loyalty from employees many companies strive to achieve. The combination of monetary and non- monetary rewards have proven to be affective in an completive job market, as it helps to keep employees from straying to companies that offer appetizing bonuses and incentives.
Management spends a huge amount of time to design incentive systems and schemes to motivate their workers and to ensure they work in their best possible manner. Motivating workers by giving them decent pay helps in winning employees heart to make the work done efficiently, significantly and effectively. The most effective way to motivate people to work productively is through individual incentive compensation (Pfeffer, 1998). An attraction of getting more is a powerful incentive to people for high performance. While most people agree that money plays a major role in motivating people, in organizations there is a widespread belief that money may also have some undesirable effects on morale.
“It is therefore imperative for a company to understand the attitude of its workers and measure the job satisfaction of its employees, as job satisfaction is essential for productivity” (L. Bradshaw para. Therefore, the individual can still attain high job productivity without having the satisfaction in their field of work. This happens when money is just their motivation, or if they’re trying to receive a promotion. Others try to increase their productivity due to just the satisfaction they obtain from their work.
Nowadays, employees not only focus on the salary of their jobs. They focus on the chances and trainings to improve themselves in their career. Job satisfaction is one of the most widely used variables in organizational behaviour. It is an employees’ attitudinal response to their organization. The job satisfaction related to job performance of the employees. So the employees’ performance can improve through the reward and benefits to employees to reach their satisfaction. Once they satisfied, they will contribute more in company and bring their passion and creative in their jobs. There are two types of job satisfaction, intrinsic job satisfaction and extrinsic job satisfaction. If the employees consider only the type of work they do or the tasks that make to the job, there is intrinsic job satisfaction. If the employees consider the conditions of work, there is extrinsic job satisfaction. For example, they are considering the salary, co-workers or supervisor.
Job satisfaction has been an important topic over the years (Akfopure, 2006). The association between man and labor has always concerned the attention of philosophers. Work plays a big factor in a man’s life. Work is social reality and social expectancy to which men seem to ratify. It provides status to the individual and at the same time it binds him to the society. An employee who is satisfied with his job would perform his duties well and be committed to his job, and subsequently to his organization. Thus, it is of greatest importance for employers to know the factors that can affect their employees’ job satisfaction level since it would affect the performance of the organization as well.