Rewarding staff

justsomeuser98
Mind Map by justsomeuser98, updated more than 1 year ago
justsomeuser98
Created by justsomeuser98 about 6 years ago
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ICT (Chapter 13- Rewarding staff) Mind Map on Rewarding staff, created by justsomeuser98 on 12/17/2013.
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Rewarding staff
1 Time rates and flat rates
1.1 Staff are paid a fixed amount per hour for however many hours they are contracted to work
1.2 If they work extra hours they are paid overtime
1.2.1 A high
2 Bonuses
2.1 A special amount given as an additional reward over and above a salary or wage, possibly paid as shares in the business
2.2 A form of payment by results, may be dependent on the performance of all the staff within the business, not just an individual
3 Fringe benefits
3.1 a form of remuneration, to motivate staff
3.2 perks of fringe benefits may have a monetary value, but are not added to the financial package to be spent as the employee wishes
3.3 Often advertised with the job
4 Commission
4.1 Payment by results
4.2 A system of paying employees a percentage of the value of the goods they sell.
4.3 Usually paid alongside the hourly pay, but some staff can be paid commission only
5 Piece rate
5.1 When workers are paid for each item they make
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