Payment Systems Last lesson we looked at l

Payment Systems

Last lesson we looked at…. l The difference between wages and salaries – looking at pay slips l Overtime, Commission, Bonuses, Piece Rate l Which method is best?

Today’s lesson… l Different l Recap types of workers which payment is the best

Types of workers … l Full l Employees who work the whole of the working week l Part l Time Employees who work part of the working week

Temporary Workers… l Those workers who have a temporary contract l Tend to be employed on a short term basis l Temporary workers may be used to cover other workers in an emergency or during peak times

Freelance… l Freelancers are normally self-employed l They are paid by a business to perform a particular task l They can choose when and for whom they work

What factors affect which method? l Tradition – Workers dislike changes to their pay, especially if they earn less in the long l Tax and Employment Costs – Some payments systems cut costs for businesses l Motivation – Some payment systems are used to motivate employees, increasing productivity

What factors affect which method? l Tradition – Workers dislike changes to their pay, especially if they earn less in the long l Tax and Employment Costs – Some payments systems cut costs for businesses l Motivation – Some payment systems are used to motivate employees, increasing productivity