Is a curve in a scattegram representing the relation

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is a curve in a scattegram representing the relation between the relative worth of jobs and wage ratesPay grades: is groups of jobs within a particular class that are paid the same rateCompetence – based pay: is pay based on an employee’s skill level, variety of skills possessed or increased job knowledge GOVERNMENT REGULATIONS OF COMPENSATION Canada labour codeEmployment standards actsOther legislations
Significant compensation issuesPay equity: is equal pay for equal workWage rate compression: is compression of differentials between job classes, particularly the differential between hourly workers and their managersChapter 10STRATEGIC REASONS FOR INCENTIVE PLANSVariable pay: is tying pay to some measure of individual, group, or organizational performanceIncentive plans as links to organizational objectivesRequirements for a successful incentive plansetting performance measures administering incentive plansINCENTIVE PLANSIndividual incentive plansoStraight piecework: is an incentive plan under which employees receive a certain rate for each unit produced oDifferential piece rate: is a compensation rate under which employees whose production exceeds the standard amount of output receive a higher rate for all of their work than the rate paid to those who do not exceed the standard amountoStandard hour plan:an incentive plan that sets rates based on the completion of a job in a predetermine standard timeoBonus: is an incentive payment that is supplemental to the base wageoSpot bonus: an unplanned bonus given for employee effort unrelated to an established performance measureoMerit guidelines: guidelines for awarding merit raises that are tied to performance objectivesoLump sum merit program: Program where employees receive a year end merit payment which is not added to base payTypes of sales Incentive plansoStraight salary planoStraight commission planoCombined salary and commission planoSalary plus bonus plansGroup Incentive PlansoTeam incentive plansoGainsharing plansEnterprise Incentive PlansoProfit sharingoEmployee stock option plansoEmployee stock ownership plansChapter 11MANAGING EMPLOYEE BENEFITS PROGRAMSRequirements for an effective benefits program
oStrategic benefits planning. This includes work satisfaction, health and security requirements. Retain top-performance employees.oAllowing for employee involvement to help manage and decided benefits oBenefits for a diverse workforce. Include a multiple of options for plans.oFlexible benefits plan: benefit plans that individual employees to choose the benefits that are best suited to their needsCommunication Employee Benefits information, this is done by In-house publications, group meetings, bulletin boards, payroll inserts.

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