business unit 2: financial rewards

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  • Created by: Harpreet
  • Created on: 16-05-13 18:15
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  • Financial rewards
    • workers can be paid wages or a salary
      • wages
        • time rate
          • pays workers by the hour
          • work slowly
        • piece rate
          • how much/many they produce
            • quality may suffer if rushed
      • salary
        • both worker + employer know how much is to be paid
          • fixed amount each month
    • extra payments
      • performance related pay
        • depends on how well they work
      • commission
      • bonus: lump sum
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