Differentiate between the various rates of pay among the different major groups of employees, and include information about the differences between exempt and nonexempt employees. Discuss how wage and hour legislation has affected employment practices.
Rates of Pay
Employees within the company receive compensation on the return of work performed by them. The rate of compensation is decided on the basis of age, job classification, knowledge and skills etc. Rate of compensation for employees in the company are less than the managers. In the year 2012 rates of workers has not been increased much, whereas employees rates of compensation has been increased or decreased, which is dependent on the market conditions. Individual at higher level will receive more compensation in comparison to individual at lower level (Guerin, Elias & Delpo, 2007). Different groups of employees such as commission based employees, piece rate employees; contractors, etc. have different rates of compensation. Commission based employees are paid a fees or percentage for how much they sell in market.
At the same time, piece rate employees are paid on the basis ...
The expert differentiates between the various rates of pay amount the different major groups of employees. Exempt and nonexempt employees is discussed.