Business Compensation and Benefits Based on Employees Worth
Scenario:
Billy's Bar-B-Q is looking to set up a new Texas style restaurant. However, unlike the southern locations, they have come to the realization that things like taste, work ethic, and compensation expectations are different in the north.
Compensation and/or benefits employees receive are a reflection of the companies value of the employee's worth as to that position or the duties required to accomplish the job duties. Compensation could provide motivation for an employee to perform to the best of their abilities, or simply clock in and clock out.
In framing your response, research different compensation polices from piece rate systems to hourly to salary Identify different compensation systems and provide the benefits and disadvantages of each.
Describe Comparable Worth and explain how companies attempt to compensate their employees based on such a concept and not violate any federal legislation.