Remuneration

Remuneration is the compensation that one receives in exchange for the work or services performed. Typically, this consists of monetary rewards, also referred to as wage or salary

Time rate- Staff are paid for the numbers of items they sell.

Overtime- staff are paid extra for working beyond normal hours.

Commission-staff are paid for the number of items they sell.

Piece rate-staff are paid for the number of items produces.

Performance related pay- staff are paid based on the quality of their performance and productivity.

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 for.

Fringe benefits- payments in kind eg. company car or staff discounts.

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