The labor cost or wages is the
second main element of cost of production.
For advancing of Economy. It is increased production of lower unit cost, along
with rising wage rates and increasing fringe benefits.
Many productivity Statistics particularly have been developed by the bureau of
labor statistics of the US department of labor. For examining individual
performance of workers.
Standards have been developed for labor cost.
Rate (wage or cost).
An efficiency (time or usage)
Fairness rates are paid for each operation performed. Job rating has become a
recognized procedure in industry.
Quranic Verses about wages.
Proper and timely wages
Workers should be given proper and just wages. Exploitation of any person is not
allowed in Islam. Allah says:
“To the Madyan people We sent Shu`aib, one of their own brethren. He said: “O my
people, worship Allah; you have no other god but Him. Now has come unto you a
Clear (Sign) from your Lord. Give just measure and weight, nor withhold from the
people the things that are their due; and do no mischief on the earth after it
has been set in order: that will be best for you, if you have Faith] (Al-A`raf
Allah Almighty warns those who take full measure but give less to others saying,
“Woe to those that deal in fraud. Those who, when they have to receive by
measure from men, exact full measure. But when they have to give by measure or
weight to men, give less than due. Do they not think that they will be called to
account? On a Mighty Day. A Day when (all) mankind will stand before the Lord of
the Worlds] (Al-Mutaffifin 83:1-
Induce an incentive wage plan. A worker to produce more, to earn a higher wage,
at the same time to reduce unit cost.
Holy Hadees about Labour.
Pay the workers for his work before his sweat dries.
(Ibn majah 2443)
Unsuccessful system of internal Control
The system has failed and exit of modern industrial revolution.
History of the system
The technological, political, regulatory and economic forces had been changing
the world wide economy since 1973. During nineteenth century as comparable to
the changes experienced in a fashion.
To reduce growth rates of labor income excess capacity and the requirement for
downsizing and exit.
Two decades indicated corporate internal control system have failed to deal
effectively with thesechanges , especially slow growth .
Holy Quran and Hadees guide about the labour.
Make fair dealing between employer and employee. Employer needs to ensure
justice by fulfilling his obligations to the employee and employee needs to
ensure justice by the fulfilling his obligations to the employer.
O’ you who believe stand firmly for justice.
(surah 4 verse135)
“One who exercise his authority and power unjust way , he will not enter in
paradise. ( Ahmed, ibn majah, Tirmidi).