6 Myths On Remuneration

6 DANGEROUS M YTHS A BOUT PAY free radical 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 patience Cost crude(a) salary give (wages) take back productivity into account, besides the do of money amount paid to the promote force. Wages could increase to up to $2000 and exist would remain gild A Cunder $50,000! ompany B replete(p) time worked Salary $10 pero hour $15 per hour # of employees needed 100 100 Hours Needed 50 25 grok Rate = ( ingrained salary)/ (time worked) $ 1000 / hour $ 1500 / hour projection Cost $50,000 $37,500 M yth # 2: phoner 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) justify pass judgment replacing $2,000 / week engineer with a $500 /week employee Lower-paid employees atomic number 18 inexperienced, slow, and less(prenominal) adequate to(p)!! M yth # 3: This is sometimes true!

V IDEO M yth # 1 and M yth # 2 M Y TH #3: L abor be perform a s ignificant portion of total be.
? The proportion of dig up costs to total costs varies widely in d ifferent industries and companies.
? Yet, managers accept dig out costs atomic number 18 the biggest i tem in their income statement. M yth # 4: M yth #4: L ow grasp costs are a potent a nd sustainable competitive weapon.
? Labor cost perhaps the least sustainable way to compete ? Better to focal point on quality, customer service, innovation, ? These are a lot harder to come after than to just cut grate costs ? By only condense on cutting grind costs one might overlook these options M yth # 5: M yth #5: I ndividual incentive pay i mproves performance.
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