Assignment 1: Salaries and Wages
Salary and the other elements of compensation are important to attract employees and to be competitive in the marketplace. There is a fine balance between paying employees well and keeping costs low to be competitive.
Tasks:
For the course project scenario company (fashion company), do the following:
Determine and discuss which positions in the store should be salaried and which positions should be paid on an hourly basis. Support your selections of salaried and hourly positions with reasons and support from literature.
Outline the policy about overtime and explain which positions will be exempt from overtime and which positions will not be exempt.
Summarize your major concerns in balancing fair and equitable compensation and costs.
FYI: List of jobs are from sales associate, HRM, fashion buyer.
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