AWARD WAGES Meaning and
Definition
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Award wages refer to the minimum wages set and mandated by an industrial agreement or an industrial tribunal. They are legally binding wages that are issued by an authoritative body, usually a government entity or a specific sector's industrial relations commission. Award wages ensure that employees working in a particular industry or occupation are paid fairly and equitably.
The process of determining award wages involves considering various factors, such as the complexity and level of skill required for a particular job, the scope and responsibility of the role, and the overall market conditions. These factors help in creating a standard wage scale for workers in a specific industry.
Award wages form the benchmark for remuneration in many industries, providing a level of protection for workers by preventing employers from unilaterally determining wages that are lower than the set standards. They provide a baseline for employers to ensure fair payment and support employees in maintaining a decent living standard.
Although award wages primarily function as minimum standards, they can be adjusted to accommodate experience, additional skills, or qualifications. These variations, known as wage classifications, allow for incremental wage increases based on factors such as seniority within an organization or additional training achieved.
Employers are legally bound to comply with award wages and are required to pay at least the minimum amount set under the relevant award. Failure to do so can result in penalties and further legal consequences. Award wages, therefore, play a vital role in ensuring fair and just compensation for employees within specific industries or occupations.
Common Misspellings for AWARD WAGES
- zward wages
- sward wages
- wward wages
- qward wages
- aqard wages
- aaard wages
- asard wages
- aeard wages
- a3ard wages
- a2ard wages
- awzrd wages
- awsrd wages
- awwrd wages
- awqrd wages
- awaed wages
- awadd wages
- awafd wages
- awatd wages
- awa5d wages
- awa4d wages
Etymology of AWARD WAGES
The term "award wages" does not have a specific etymology because it is a combination of two separate words: "award" and "wages". However, we can look at the etymology of each word individually:
1. "Award": The word "award" comes from the Middle English term "award(en)", which was derived from the Old North French word "eswarder" meaning "decide, determine". This Old North French term was formed by combining the prefix "es-" (related to Latin "ex-", meaning "out") and the Old Low Franconian word "wardon" (meaning "keep, guard"). Ultimately, "wardon" can be traced back to the Proto-Germanic word "wardōną", which meant "to watch, guard".
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