Human Resource Management Pay and incentives

What is pay for? - It is the main incentive that is given to employees to do the work. It provides motivation for the staff to want to work hard in their job.

What are the current minimum wage allowances? - From October 2016, the minimum age for 25 and over is £7.20, however it is rising by 30p from April 2017.

What are the implications for paying different salaries for the same job? - People doing the same job should receive the same wages as it may seem unfair. However, there are several circumstances where it is normal to see a difference in pay (there should not be a large gap). These are education/experience, skills and length of time with employer.

The equal pay act 1963 makes it illegal for employers to pay you less wages on the basis of religion, gender, disability, race, marital status, national origin, age, pregnancy status or genetic information for doing the same work as other employees. Wage discrimination can be reported to the equal employment opportunity commission.

Explain the meaning of performance related pay and for and against argument for it? - Performance related pay is a financial award system for employees where some or all of the pay is related to how their performance is assessed, relative to stative criteria.

For: The employees will often work harder, so they can improve their pay. Helps to improve motivation. Increases commitment. Attendance and sales.

Against: The job may not be done to the standard that is required. It also can cause competition. It is also unfair and costly.

The features of total reward? - Motivate with short term/long term incentive pay. The features of total award are based pay, merit pay, incentives, promotion pay, increases, inflation, adjustments, equity based reward.

Benefits: Health plans, disability incomes, life insurance, retirement plans, paid time off, executive benefits and employee assistance program.


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