WAGE FLEXIBILITY IN THE CONTEMPORARY SOCIETY

Abstract

The paper follows to offer the most efficient solutions for the attainment by Romania of the economic development level associated to the Western European countries. It proposes the division of the flexibility of labour market 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: a) plans of individual and group incentives; b) plans of assigning wages out of productivity; c) plans of distribution of profits and, respectively, d) plans of suggestions. The labour market flexibility, in general, and especially the wage flexibility contributes to the increase of employee motivation at the workplace, aspect which leeds to the growth of labour productivity, through this one being put the bases of the medium- and long-term economic development.

Keywords

• Keywords: flexibility
• security
• incentives
• efficiency
• productivity.