There are two ways to pay directly time based pay

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There are two ways to pay directly: Time based pay: Daily, hourly, weekly, biweekly or monthly wages and salaries Performance based pay: Ties compensation directly to the amount of product the worker generates. 2. Direct payments: Financial benefits like employer-paid insurance and vacations. 3.6(A) Factors influencing the design of compensation plan
Legal considerations in compensation Union influences on compensation decisions Corporate policies and competitive strategy Policy issues affecting the plan of an organization 3.6(B) Establishing Pay Rates Step-1 The Salary Survey: A survey aimed at determining prevailing wage rates. A good salary survey provides specific wage rates for specific jobs. Formal written questionnaire surveys are the most comprehensive, but telephone surveys and newspaper ads are also sources of information. Step-2 Job Evaluation: A systematic comparison done in order to determine the worth of one job relative to another. Job Evaluation method includes: 1. Ranking: Involves ranking each job relative to all other jobs, usually based on overall difficulty. There are several steps in this method: Obtain job information for each job Rank jobs by department or in clusters Select just one compensable factor Rank jobs Combine ratings 2. Job Classification: Categorize jobs into groups 3. Point Method: A number of compensable factors are identified and then the degree to which each of these factors is present on the job is determined.
4. Factor comparison: Ranking jobs according to a variety of skill and difficulty factors, and then adding up these rankings to arrive at an overall numerical rating for each given job. Step-3 Group Similar Jobs into Pay Grades: A pay grade is comprised of jobs of approximately equal difficulty. Step-4 Price each Pay Grade-Wage Curves: This curve shows the relationship between the value of the job and the average wage paid for this job. Step-5 Fine-Tune Pay Rates : A series of steps or levels within as pay grade usually based upon years of service. 3.6(C) Benefits and Rewards Package Indirect financial and non financial payments employees receive for continuing their employment with the company. There are several types of benefits: Supplemental Pay Benefits Insurance Benefits Vacations and Holidays Sick Leave Parental Leave and Family Leave Medical Leave Retirement Benefits
3.7 Health & Safety 3.7-(A) Health Pre- employment medical check-up: The selected person before joining has to go through full medical check-up that guarantees his /her physical fitness to perform the job successfully. A medical practitioner who uses a physical capability analysis that assesses the candidate against the physical capabilities documented for each role conducts the medical check-up. A medical is also appropriate for internal candidates if they are applying for positions that require different physical capabilities.

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