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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?
List any sources used(example newspaper or online publication)

Solution Preview

1. Most of the full-time corporate management position pays salary instead of wages. Such positions include: Production Managers, Human Resource managers and Finance Manager. These positions require accountability and responsibility and advanced education of the management, which is why they are paid a flat rate (salary), so regardless of how much or how little they have to do on a daily bases, they are paid for the overall management of the program/department/project.

2. Most non-management positions and/or trade skills labour in almost all industries are paid wages reflected in a hourly rate. Such ...

Solution Summary

The solution answers the following questions:
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?
List any sources used(example newspaper or online publication)

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