Rewarding staff

Rewarding staff

Time rates and flat rates
1. Staff are paid a fixed amount per hour for however many hours they are contracted to work
2. If they work extra hours they are paid overtime
  1. A high
Bonuses
1. A special amount given as an additional reward over and above a salary or wage, possibly paid as shares in the business
2. A form of payment by results, may be dependent on the performance of all the staff within the business, not just an individual
Fringe benefits
1. a form of remuneration, to motivate staff
2. perks of fringe benefits may have a monetary value, but are not added to the financial package to be spent as the employee wishes
3. Often advertised with the job
Commission
1. Payment by results
2. A system of paying employees a percentage of the value of the goods they sell.
3. Usually paid alongside the hourly pay, but some staff can be paid commission only
Piece rate
1. When workers are paid for each item they make

Resource summary

	Created by justsomeuser98 almost 11 years ago