Remuneration

  • Time rate- Staff are paid for the number of hours worked.
  • Overtime- Staff are paid extra for working beyond normal hours.
  • Piece rate- Staff get a bonus for meeting a target set by their manager.
  • Commission- Staff are paid for the number of items they sell.
  • Performance related pay- Staff are paid for the number of items produced.
  • Profit sharing- Staff receive a part of any profits made by the business.
  • Salary- Staff are paid monthly no matter how many hours they work.
  • Fringe benefits-  Payments in kind, e.g. a company car or staff discounts.