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09-Jul-2018 19:47

As in marriage and other contractual dyadic relationships, equity theory assumes that employees seek to maintain an equitable ratio between the inputs they bring to the relationship and the outcomes they receive from it (Adams, 1965).Equity theory in business, however, introduces the concept of social comparison, whereby employees evaluate their own input/output ratios based on their comparison with the input/outcome ratios of other employees (Carrell and Dittrich, 1978).The inputs that a participant contributes to a relationship can be either assets – entitling him/her to rewards – or liabilities - entitling him/her to costs.The entitlement to rewards or costs ascribed to each input vary depending on the relational setting.Critics have also argued that people might perceive equity/inequity not only in terms of the specific inputs and outcomes of a relationship, but also in terms of the overarching system that determines those inputs and outputs.Thus, in a business setting, one might feel that his or her compensation is equitable to other employees', but one might view the entire compensation system as unfair (Carrell and Dittrich, 1978).Inputs in this context include the employee’s time, expertise, qualifications, experience, intangible personal qualities such as drive and ambition, and interpersonal skills.Outcomes include monetary compensation, perquisites ("perks"), benefits, and flexible work arrangements.

Payment whether hourly wage or salary, is the main concern and therefore the cause of equity or inequity in most cases.In industrial settings, assets such as capital and manual labor are seen as "relevant inputs" – inputs that legitimately entitle the contributor to rewards.In social settings, assets such as physical beauty and kindness are generally seen as assets entitling the possessor to social rewards.It is the subtle variables that also play an important role in the feeling of equity.Just the idea of recognition for the job performance and the mere act of thanking the employee will cause a feeling of satisfaction and therefore help the employee feel worthwhile and have better outcomes.

Payment whether hourly wage or salary, is the main concern and therefore the cause of equity or inequity in most cases.

In industrial settings, assets such as capital and manual labor are seen as "relevant inputs" – inputs that legitimately entitle the contributor to rewards.

In social settings, assets such as physical beauty and kindness are generally seen as assets entitling the possessor to social rewards.

It is the subtle variables that also play an important role in the feeling of equity.

Just the idea of recognition for the job performance and the mere act of thanking the employee will cause a feeling of satisfaction and therefore help the employee feel worthwhile and have better outcomes.

In any position, an employee wants to feel that their contributions and work performance are being rewarded with their pay.