Payment system

Types of payment system They could theatrical role Commission Workers atomic number 18 paid a percentage of the products sales value this would be sufficient as it would impress staff to grass more(prenominal) as they confide on commission to earn money. They could use a bonus intrigue Workers must achieve pre-agreed sales tar acquires to earn the bonus. This would encourage staff to sell more which would increase the companys turnover and profits.They could offer sales staff a salary This would provide staff with financial security. However, it may not run Taft to sell more are the same amount Is pay distributively month regardless of performance. Performance related system where pay Is cerebrate to performance, with higher level of performance leading to Increased pay. Time or flat rate system In which pay Is expected as an hourly, weekly or annual rate. How it go staff? People flavor strongly about it.Pay helps to satisfy many needs (e. G. Security, esteem needs, reso urces to tail self-actualization) Pay is the subject of much important business legislation It helps draw reliable employees with the skills the business deeds for success Pay also helps nurse employees rather than them leave and perhaps Join a competitor For about employees, the remuneration package is the most Important part of a crinkle and certainly the most visible part of any Job offer.Effectiveness bills peck be used to impel employees across a bulky spectrum of Industries. In fact, according to the Personnel Systems website, a survey conducted by the American Compensation Association and the American Productivity Center showed that up to 89 percent of companies using financial incentives for staff were rated costive or really positive by more than 1,500 individuals taking the survey.Because everyone can use more money, this is by far one of the most common and effective shipway to motivate staff. Broad Options Another advantage of using money to motivate employe es is that a company has broad options in terms of the way to use it. From special bonuses to commission pay to gift certificates and cash rewards, money can be used In a variety of ways to get employees to strive for bigger and better goals.Moreover, companies have the option o transfer It up, depending on the specific goal In mind, so that cash Isnt everlastingly the best In which money can be used to motivate sometimes, It can be Increased benefits that save the employee money without the company needing to bring through a Money appeals to all demographics and can motivate the lowest seduce employee all the way to the CEO. This is another distinct advantage of using it to motivate staff because it appeals to all types of staff. The less an employee makes, however, the more he may be motivated by a few extra dollars in his block or incentive pay of some sort.