BU354 Lecture Notes - Lecture 11: Prevailing Wage, Canada Labour Code, Total Rewards
Document Summary
A total rewards approach considers individual reward components as part of an integrated whole. Impact of rewards: purposes of rewards are to atract, retain, moivate and engage employees, compeiive base pay was the number on factor in atracing employees to an organizaion in. Four basic consideraions inluence the formaion of any pay plan: legal requirements, union issues, compensaion policy, and equity. Legal consideraions: employment/labour standards act (canada labour code) Set minimum standards regarding pay, including minimum wage, max hours of work, overime pay, paid vacaion, paid stat. holidays, terminaion pay, and record keeping of informaion: pay equity acts. Not all jurisdicions have pay equity laws: human rights act. All jurisdicions have some degree of human rights laws to protect from discriminaion. Must include sex, colour, race/ancestry/place of origin, religion/creed, marital/family status, and physical or mental disability: canada/quebec pension plan. Pensions beneits based on the employee"s average earning are paid during reirement: other legislaion afecing compensaion.
