Non Monetary Compensation System For University X

carefully planned out and considered, the total closure or failure of the organization could be at hand in the near future. In our modern age, employers know that salary is not the only factor that should be considered and that salary alone will not lead to better or more highly profitable workers alone. This is why compensation planning is important and why pay should have some connection between performance and compensation. This is why the human resources department should consider many monetary and non-monetary factors when considering how to properly compensate and motivate employees (Dessler, 2013).

Markers must mark each of the attributes and competencies globally. Judgment must be used in assessing the competencies exhibited in the candidate’s response and assigning a mark for each competency. Guidelines for weighting the various attributes are indicated throughout the assessment guide.

* Salary – This is your basic hourly rate which you will be paid per hour you work not including breaks

Participants are judged on a range of areas depending on what category their presentation is in. The categories range from a number of FCS related areas and values. Members are graded on one to five points in every area on the judge’s rubric sheet and recieve feedback for state.

Each position will be graded on a five point scale. The factors that will be taken into consideration include: experience, education, level of skill and responsibility. The five point method will be defined and the monetary value will be placed in the appropriate component.

The vantage point of paying everyone equally, regardless of race, gender, religious and/or sexual preference may seem as an obvious option as we are all created equal. The vantage point of paying a person what they are worth, what type of experience they may bring to the table, or what value they could potentially add also provides a sensible solution to paycheck discrepancies. Bridging the gap between understanding what value a person can provide and valuing the person is the debate which is quite emotional and full of

Finally, pay grades and ranges had to be established. Pay grades are groups of jobs that are similar in level of skill and comparable in value to the company. The decision was to have five pay grades based on the five natural groups of jobs: department directors, upper managers, middle managers, individual contributors and lowest level support staff. This decision was

At the end of each performance year, employees will be evaluated on their performance for the previous year. The performance ratings will go from 1 being the lowest to 5 being the highest. How they rank for the year will determine bonuses, if any, as well as any increase to their base pay. The following table illustrates how the performance rating is distributed.

Under the Income Tax Assessment Act 1997, S 6-5(1), assessable salary incorporates common income and statutory income (S 6-10). Assessable salary is comprised of two incomes, which are; (1) Amounts which are "pay" inside of the standard importance of that word; and (2) Amounts which aren't usually considered as salary, however which Tax Law says will be burdened as though the sum is pay (statutory income). Section 6-10 states that a man's assessable pay additionally incorporates different sums (that are not common salary) but rather which are "incorporated in your assessable income by procurements about assessable pay." In the Tax Law, this is called "statutory wage." Pay is sorted into three wide criteria: (1) Income from individual administrations and work (compensation). (2) Income from business (exclusive business). (3) Income from property.

2. For the purpose of this article, "pay" means the ordinary basic or minimum wage or salary and any other consideration, whether in cash or in kind, which the worker receives directly or indirectly, in respect of his employment, from his employer.<</p>

Some organizations are unwilling to show their reward systems and pay policies (Lawler, 1995). Many Human Resources professionals believe gender pay gaps to be resolvable through the monitoring of pay levels and communication (Report on Salary Surveys).Greater pay transparency has been a great benefit to the board, employees and managers as they now know what is happening across the business and they are able to confidently justify their actions (Commission Policy Report).All market-related supplements are recorded and reviewed separately from basic salary to ensure openness and transparency. Regular research market rates within the various labor markets in which they operate is undertaken improving transparency would also help to improve talent development, as employees would be able to see what they could earn if they wanted to move to another division and upgrade their skill set. (Commission Policy Report).

Another salary range will be issued after more information is collected. A personalized report can be obtained by giving more information about you. Questions will be

• Measure and manage the “soft” skills as well as the hard skills. In addition to rewarding output, profit, and sales etc., provide recognition and reward for ‘how’ the work gets done, the people skills that contribute to a better climate and greater satisfaction.

Whilst the normal range of salaries for each job grade is 80% to 120% of the job salary, individual salaries may in some circumstances be set above or below this range dependent upon the job market for specific regions or job categories or upon the individual's level of experience or length of time in the job.

After doing extensive research and analyzing the data released by the bureau of labor statistics, the secretary will be paid a basic pay of $25.00 per hour (Deckop, 2006). The amount is based on comparative analysis of how secretaries are paid by other similar organizations and with the goal of offering a competitive package that attracts many qualified secretaries to compete for the position. The position will be non-exempt and is based on fixed working hours. Any overtime will not be implemented until approved by the company’s management (Armstrong, 2007). The overtime payment will be $35.00 per hour, but this may be adjusted depending on the amount of work involved in the overtime hours.