Pay and benefits are about market forces and the idea that there’s a market price for each job. Determining how much to pay and what benefits to provide is therefore about analysing the labour market. Guesswork and bias are the big enemies. But there are huge issues about equity. Here are some of the issues.
Employing staff can be daunting. But it can also be very rewarding as you see your business grow.
There are seven key points to be considered. And each needs you to take specific action.
One popular outcome for directors of a profitable firm in a buoyant market is to go for a buy out – selling the firm as a going concern. The buyer will use any identified risks as argument to reduce the offer price. And here's how.
Managers can find it extremely attractive to ‘employ’ foreign staff resident abroad. Engaging workers in foreign countries is complex. In all cases it is better to trade at arms length through business to business agreements, paying against invoice. Workers are then employed locally. Here are all the possibilities.
Pay is a complex business. Pay is not the only reason why folk leave one firm and move to another but often it is high in prominence in the overall decision. This blog sets out the primary criteria in deciding how much to pay an employee for doing a job and then describes a pay model that allows these criteria to be met.