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A pay scale (also known as a salary structure) is a system that determines how much an employee is to be paid as a wage or salary, based on one or more factors such as the employee's level, rank or status within the employer's organization, the length of time that the employee has been employed, and the difficulty of the specific work performed.
Broadbanding defined. Broadbanding is a job grading structure that falls between using spot salaries vs. many job grades to determine what to pay particular positions and incumbents within those positions. While broadbanding gives the organization using it some broad job classifications, it does not have as many distinct job grades as ...
Hay Job Evaluation is a method used by corporations and organizations to map out their job roles in the context of the organizational structure. Criticisms. A criticism levelled against the Hay Guide Chart is that the choice of factors is skewed towards traditional management values:
Performance-related pay or pay for performance, not to be confused with performance-related pay rise, is a salary or wages paid system based on positioning the individual, or team, on their pay band according to how well they perform. Car salesmen or production line workers, for example, may be paid in this way, or through commission .
The General Schedule ( GS) is the predominant pay scale within the United States civil service. The GS includes the majority of white collar personnel (professional, technical, administrative, and clerical) positions. As of September 2004, 71 percent of federal civilian employees were paid under the GS.
Personal finance. A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. Salary can also be considered as the cost of hiring and keeping human resources for ...
The objective of the Progressive Wage Model has been to increase the salaries of workers through the enhancement of skills and improving productivity. Progressive wage is enforced via business licensing, as opposed to legislation. [2] This model was designed to enable rank-and-file workers to climb the wage ladder and provides for a minimum ...
A salary cap can be defined as a hard cap or a soft cap.. A hard cap represents a maximum amount that may not be exceeded for any reason. Contracts which cause a team to violate a hard cap are subject to major sanctions, including the voiding of violating contracts, and the stripping of championships won while breaching salary cap rules, which happened to the Melbourne Storm in the NRL.