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In: Operations Management

Outline the process for establishing pay rates.

Outline the process for establishing pay rates.

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Pay rates are determined by using a number of processes which are then utilized to establish the accurate values that each job is worth:-

1. There is a need to consider the minimum amount of wage, for the particular job as regulated by fair labor standard act of 1938.

2. The pay scale is determined by using processes such as salary survey and job evaluation which help determine the worth that each job has and the performance of the employee is factored into the process after that.

3. Calculating the compensable factor.

4. Utilizing the model of competency-based pay.

5. Comparable worth is factored in and essentially allows us to consider all the different factor and research and essentially create the pay scale and the pay rate.

keosha answered 6 months ago
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