Important information about Compensation Management
1. List three positions where wages are paid in terms of an annual salary. Why do these positions pay a salary instead of an hourly wage?
2. List three positions where wages are paid in terms of an hourly rate. Why do these positions pay an hourly rate instead of a salary?
3. Which law regulates the determination of the form of compensation? What are the legal requirements for a position that pays a salary? Why do you think this law was established?
4. List three positions where wages are paid in another form besides salary or hourly. What are the other forms of compensation? Why do you think these specific methods have been chosen? How are these methods of compensation more or less effective that hourly or salary wages?