Res341 Week 2 Lt

Fair Wages for All

UOP

RES341

[ August 16, 2010 ]

Dr. Jim Burrescia

Fair Wages for All

Many steps should be followed when researching a particular problem or opportunity.  In fact, a proven, precise process should be followed to ensure proper data collection, and accurate results or answers. In this paper, the reader will read about a step by step process on wages. This research process will entail a problem definition, the purpose of this particular research and a hypothesis of possible outcomes.  The paper will explain the importance of wages in the workplace, and how it affects the economy as whole.  It will also include examples to illustrate these points and a clear understanding of why wages are so important and why they should be given a vast amount attention.

Purpose of Research

The research on wages is very important to show how employees are being compensated and how non-effective wage management has an adverse effect on the economy. Effective wage management should be of high importance to every organization. If employees are not being compensated for the job that they are doing, they will more than likely not stay with the company thus increasing the unemployment rate in our country. Looking at the age, race, gender, and experiences associated with employees will give a better understanding of how they are being paid.

The unemployment rates are on the rise lately. The unemployment rate crept up to 9.7 percent, the highest in over the years (Aversa, 2009). The rise in the unemployment rate is an issue that affects every man, woman, and child on the planet, and it certainly gets its fair share of media attention. “It gets this attention because a high rate is seen as a symptom of a malfunction in the economic system” (Schenk, 2006, p.).

Weekly earnings of the wage and salary workers are obtained based on a survey that is conducted monthly for the Bureau of Labor Statistics by the U.S. Census Bureau from a scientifically selected...