With so many methods of pay available, how should a business decide to structure the pay package it offers to employees, and what rate of pay should it use?
The starting point is usually to find out what the "market rate" is. Factors that help determine the market rate for a job include:
There are several ways in which a business can obtain data on market rates:
The next question is – should the business pay MORE or LESS than the market rate?
Factors to consider here include:
The third important question is how to structure the remuneration package.
Worked A Grade answers to recent AQA GCSE Business Studies Unit 1 exam papers together with detailed examiner commentary
This resource comprises a complete collection of editable PowerPoint presentations that are ideal for teaching individual topics for the whole Year 1 (AS) teaching content. Each presentation has a consistent, clear and professional format and maps precisely to the specification teaching content.