tro: Compensation for today 's average worker has always been a highly sensitive topic for any employer. Determining fair compensation can be a overbearing task as there are many contributing factors that make up the general pay scale. When determining pay a company must always consider the hourly amount, the benefits that may be offered, any incentive that could potentially be incurred and ensuring that their employee have an established work life balance. For an employer to be successful in determining compensation for their associate they must remain grounded around 1 key principle. An employees compensation is determined by expertise, education and the daily duties performed by the employee. For an employer to higher for a salaried position This is all determined by the "Fair Labor Standards Act of 1938 which covers all employees (with some exceptions) of companies engaged in the interstate commerce or in the production of goods for interstate commerce. The FLSAs major provisions are minimum wage, hours of work and child labor". Compensations Staff, pg. 553-554, Penn Foster. This law is based on an exempt/non-exempt basis. Most salaried positions are exempt as they are usually offered at a higher wage which is "above the exemption line of $23 600/ year." FLSA.com, Coverage under the FLSA, http://www.flsa.com/coverage.html. When a position is exempt the employer now has the ability to set the wage but not the maximum hours worked. When creating a salaried position the employee must have a set wage that cannot be adjusted based on hours worked, whether it be higher or lower than the generalized 40 hour work week. Any salaried employee must also be given a number of annual sick days, bereavement pay and holiday pay etc." .FLSA.com, Coverage under the FLSA, http://www.flsa.com/coverage.htmlThe only adjustment that may be made to the base pay must be considered permissible. An example of a permissible adjustment to the base pay would be an employee using more than their allotted sick time. It is clear that this law was created to protect workers When reviewing a position for a Hyndman trucking as a longhaul truck driver the pay scale was listed as "paid per mile, per mile driven, bi-weekly via direct deposit." Drive Hyndman, http://www.drivehyndman.ca/solo/." Another interesting compensation scale is known as piece work. Workers at the St. Thomas Timkin assembly plant are paid on an hourly wage with bonus compensation per pieces during their shift. Finally, one of the most heard of compensation is a commission based pay wage. When reviewing an add for a sales associated at MGM ford there is no base wage listed, but that wage is determined by number of cars sold. A great benefit to these compensation scales is that the opportunity for larger income is determined by the amount of time put in. There is also the benefit of being able to create ones own schedule. A disadvantage to this compensation scale is that your income is never guaranteed and in many of these positions opportunity for growth is almost
Compensation is made of a base salary (paid by the hour, work or the year; excluding overtime or bonuses), variable pay (bonuses, profit sharing/stock options which work hand and hand with the performance of the company), and benefits (to include health insurance/savings plans – 401(k), or tuition reimbursement). The traditional way of determining base pay for jobs was to compare jobs in the same industry. Now industry and market, no long work by themselves, the current thinking is more person-based that considers knowledge, skills, and competencies of the work. This, however, is best suited for high-performing environments that remain flexible in their deployment of human capital.
Because each of these different positions requires a different level of education and experience, it is assumed that these positions will also come with different compensation options. Base pay will differ between the three levels of employees, beginning with the managers receiving the highest level of base pay (due to their higher level of education/experience) and salespeople will receive the lowest level of base pay. The physiotherapist and the kinesiologist will receive a base pay somewhere in between.
At its conception, the United Stated Constitution was considered the most well developed progressive document ever written, because of its flexibility. The Constitution’s framers realized that no document could cover all of the changes that would take place to ensure its longevity. Constitutional convention every twenty years was proposed by Jefferson to update the Constitution. Since its ratification in 1789, only 27 proposed amendments have made it through the difficult process, although there has been close to 10,000 amendments proposed in Congress, and only a fraction of a percentage of those receive enough support to actually go through the constitutional ratification process. The success rate of an amendment to become part of the Constitution is less than 1%. At the time of its ratification, the population of the United States was around 4 million and has grown to exceed 321 million people. Actually, since 1791 including the Bill of Rights the US Constitution has only changed 16 times. If you consider, the changes in infrastructure, populations and technology that have occurred in the United States over the past
In general, everyone who has a job has to be treated equally and has to get payed equally without any discrimination, based on gender, ethnic background, color or age. This is guaranteed by the Equal Pay act and Lilly Ledbetter Fair Pay Act. Different states have different compensation practices. While in US you can negotiate related to your compensation with the employer, in other states, especially in those underdeveloped countries, the compensation criteria’s are fixed and any employee cannot negotiate related to compensation (especially in public sector).
The Fair Labor Standards Act (FLSA) was originally enacted in 1938. The law is enforced by the Wage and Hour Division of the U.S. Department of Labor, and includes 5 major provisions that protect employees. (TEXT) The five provisions include: coverage, minimum wage, overtime pay, youth employment, and record keeping. Coverage refers to the types of workers whom are protected by the FLSA. The FLSA also handles compensation issues like minimum wage, commissions, bonuses, expenses like room and board and other various deductions. To ensure that employees receive adequate compensation for working additional hours the FLSA has developed rules governing overtime pay. The Act also created and implemented rules governing youth
The first significant equality legislation in the UK was the Equal Pay Act 1970 . However, the issue of equal pay in the workplace can be traced back to the 19th century. This essay will analyse how economic and social factors of the 19th and 20th century were the reasons for highlighting the issue of equal pay in the workplace. However, with the gender pay gap standing at 19.2 per cent in 2015 , there can be no defining reason for equal pay in the workplace. Consequently, this essay will then discuss how equality legislation has challenged unequal pay in the workplace, but in its reactive approach has failed its objective. Furthermore, this essay will then discuss the remedies for equal pay in the workplace by analysing the impact on both
Deciding which pay form to use when compensating employees is extremely important to a company. Many things are taken into consideration: labor costs, the correlation between performance and pay, customer service, and the ability to attract and retain employees which is extremely important to FastCat’s need for innovation. We believe a single pay structure coincides with our single based plan for the organization. We want to keep things simple and understandable to all areas of the organization. This strategy will allow employees to understand how their performance and the performance of others relate to the success of the company through specific measures. It is also important that the strategies align with the objectives of FastCat. We beli...
...t be at least minimum wage. The employer is required to pay the employee his overtime pay on the regular payday for the pay period in which the wages were received. An agreement made by an employee and employer does not wave overtime pay. It is also against FLSA compliance for an agreement to be made that 8 hours in a 40 hour work week will count as working time.
Jones, F.F., Scarpello, V., & Bergmann, T. (1999). Pay procedures - What makes them fair? Journal of Occupational and Organizational Psychology, 72(2), 129-145.
A huge problem in the working world is the issue of equal pay between men and women in the workplace. Once stance taken is that women are specifically targeted and that they are payed less than the average income of a man who has the same education and who works in the same profession while the other stance states that men and women are paid as close to equal as possible considering the careers taken. The issue of equal pay for women is considered an embarrassment. The term ¨embarrassment” is not an accurate term to describe the issue when so many factors go into how much women are paid. In 2014, a study showed that women earned 77 percent of what a man in the same position earned the same year. This looks bad, but
In 1963, President Kennedy signed the Equal Pay Act into law, making it unlawful to discriminate against a worker on the basis of sex. Since that time, the wage gap between men and women in the United States has narrowed by just 15 cents, now being 74 cents, as reported by the U.S. Census Bureau.
The US Women’s National Soccer Team has been fighting to achieve “equal pay for equal play” for years. Throughout the history of the USWNT they have won three Women’s World Cups (including the first Women’s World Cup), four Olympic Women’s gold medals, seven CONCACAF Gold Cups, and ten Algarve Cups. Even though the women’s team holds a better record than the men’s, they still find themselves getting paid less than their male counterparts. This is one of the numerous forms of prejudice. It can be anything from judging a person because of the color of their skin, to treating someone unfairly just because she is a woman, to denying someone their rights because they are gay. Throughout history, it has been a
Hays, Scott. "Pros & Cons of Pay for Performance." Workforce 78, Number 2 (February 1997): 68-72
A compensation package includes salary but also includes other non-salary benefits such as: health-care benefits, 401(k) plans, PTO (paid time off) and other perks. Businesses often utilize experienced Human Resources professionals to review, update and create salary scales and compensation packages for new hires. The total compensation package is often used as means of attracting employees who will complement the organization and should be consistently reviewed, acting as an incentive for retaining qualified staff. “Organizations that are not able to develop competitive pay scales along with strong compensation packages, face the risk of a competitor offering a more attractive package, which can result in employee turnover” (Dias, 2011, pg.
In today’s society, it is an understatement that women have come a long way from earlier generations in achieving gaining equal rights with men. Gender roles have evolved greatly throughout history; women can even be known as the breadwinners. However, discrepancies still exist when it comes to equal pay for equal work. This issue has the potential to have an impact on all women including myself, as I hope to one day join the workforce and become a financially independent businesswoman. While some argue that the issue is not relevant to today’s society there are still cases where women’s pay does not match up to men for doing the exact same work.