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Pay and Benefits

 

Compensation is often regarded as a key human resource issue by managers and human resources professionals. While the vast majority of Canadian firms continue to pay their workforce by salary or hourly rates, other firms make use of profit sharing schemes, merit pay or non-wage benefits to compensate and motivate employees. While some workers enjoy the benefits of payment schemes such as profit-sharing, others continue to work in jobs that pay minimum wage. How have such individuals fared with respect to real hourly rates over the past several decades? How satisfied are Canadians with the amount their pay and why does pay satisfaction matter? Do those employed in different occupations express different levels of satisfaction with respect to their paycheque? How frequent are remuneration schemes such as profit sharing and merit pay?

 

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