Methods of Pay

Question	Answer
What is Time Rate?	Paid the same amount per hour
Advantages of time rate?	Same job = Same wages = Fair
Disadvantages of time rate?	May work slowly so they can get over time
What is over time?	Getting paid for working over normal hours
Who can get over time?	Shop assistants
Advantages of Over time?	Better work if they stay behind
Disadvantage of Over time?	Employees may work slowly to stay behind and get more money
What is piece rate?	Paid for how many products they produce
Who gets piece rate?	Factory Workers
Advantage of piece rate?	Motivation
Disadvantage of Piece Rate?	Need for Speed makes poor work
What are bonuses?	Extra money for good work
Advantages of Bonuses?	Motivation
Disadvantage of Bonuses?	Jealousy
What is fixed rate?	Getting paid the same amount monthly
Who gets fixed rate?	Teachers
Advantages of Fixed Rate are...	You can plan ahead
Disadvantages of Fixed Rate are...	They have no motivation to do well
What is Commission?	Getting paid by the percentage of items you sell
Who gets Commission?	Car Sales People
What are advantages of Commission?	Motivation
What are disadvantages of Commission?	Employees may leave if they can't sell

Resource summary

	Created by dramaqueen72 almost 11 years ago