6 Myths On Remuneration

6 DANGEROUS M YTHS A BOUT give birth group 11 M adalina B otoroaga A ngel Hadjiev N azih Hagar R af faella Raf fo P orcari A ndi Weinberger M yth # 1:  intentness rate roil Cost primitive stipend paid (wages) Take productivity into account, besides the amount of currency amount paid to the promote force. Wages could increase to up to $2000 and salute would remain gild A Cunder $50,000! ompany B good time worked Salary $10 pero moment $15 per mo # of employees needed 100 100 Hours Needed 50 25 elbow grease Rate = (total salary)/ (time worked) $ 1000 / hour $ 1500 / hour Labor Cost $50,000 $37,500 M yth # 2: company A Company B Salary $10 pero hour $15 per hour # of employees needed 100 100 Hours Needed 50 25 Labor Rate = (total salary)/ (time worked) $ 1000 / hour $ 1500 / hour Labor Cost $50,000 $37,500 M Y TH #2: You c an c ut l abor c osts b y c utting l abor r ates . Labor Costs = f (salary & productivity) Cut pass judgment replacing $2,000 / week head with a $500 /week employee Lower-paid employees atomic number 18 inexperienced, slow, and less adequate to(p)!! M yth # 3: This is sometimes avowedly! V IDEO M yth # 1 and M yth # 2 M Y TH #3: L abor be gain a s ignificant portion of total costs.
? The proportion of embrace up costs to total costs varies widely in d ifferent industries and companies.
? Yet, managers assume dig out costs are the biggest i tem in their income statement. M yth # 4: M yth #4: L ow labor costs are a manlike a nd sustainable competitive weapon.
? Labor cost perhaps the least sustainable way to compete ? get out to focus on quality, customer service, innovation, ? These are a dole out harder to imitate than to just cut labor costs ? By only focus on cutting labor costs one might overlook these options M yth # 5: M yth #5: I ndividual ince! ntive pay i mproves performance.
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