BU354 Chapter Notes - Chapter 10: Prevailing Wage, Vise, Gender Pay Gap
Document Summary
Basic considerations in determining pay rates (four factors: legal considerations in compensation, employment/ labour standards act. Minimum standards regarding minimum wage, hours, termination, vacations: pay equity. Employers are required to identify males and female dominated jobs and then use a gender-neutral job evaluation system based on compensable factors to evaluate the job: human rights. Prohibit discrimination: canada/quebec pension plan during retirement, workers" compensation. Pension benefits on the employees average earnings are paid. Provide a prompt, sure and reasonable income to victims of work-related accidents and illnesses: employment insurance. Establishing pay rates: step 1. determine the worth of each job through job evaluation for internal equity, step 2. Group similar jobs into pay grades: step 3. Conduct salary survey of what other employers are paying for similar jobs for external equity: step 4. Price each pay grade using wage curves: step 5. Rating from the point method and job classification method are most consistent.