Wage Flexibility in Contemporary Society

Silviu Alexandru Teculescu
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Silviu Alexandru Teculescu: I.N.C.S.M.P.S.

Annals of University of Craiova - Economic Sciences Series, 2008, vol. 1, issue 36, 141-148

Abstract: The present article has as an objective to offer the most efficient solutions so that our country reach the level of economic development associated to the West European states. It proposes the division of flexibility in three components, namely: internal flexibility, external flexibility and wage flexibility. The analysis performed within the present study will emphasize the wage flexibility. Wage flexibility can be classified in four components: ¦S Plans of individual and group incentives; ¦S Plans of assigning wages out of productivity; ¦S Plans of distribution of profits and respectively ¦S Plans of suggestions. At the same time, the incentive plans are under the incidence of internal and external influence factors. The present study proposes to undertake an analysis of the two dimensions. To sum up, flexibility of labour market in general and flexibility of wages in special, contribute to the increase of employees’ motivation at the workplace, an aspect that reflects in the increase of labour efficiency, through this the bases of economic development on a medium and long term being put. It is necessary that the governmental strayegy, independently of its orientation, propose as its objective a budgetary policy intended to guarantee the continuous flexibilization of labour market, concomitantly with the ensurance of employees’ security irrespective of the company where they develop their activity.

Keywords: Flexibility; security; incentives; efficiency; productivity (search for similar items in EconPapers)
JEL-codes: J00 J31 (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:aio:aucsse:v:1:y:2008:i:11:p:141-148

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