Essay on Benefits And Benefits Of International Plastics

775 Words Oct 19th, 2015 4 Pages
International Plastics is aiming to increase its market share by 5% with the help of Simpsons. Both companies need a revised compensation system that supports its business goals. Currently, both companies are paying employees a wage rate that is below the minimum wage in Canada. The base pay for employees in non-technical jobs in both companies should start at $10.30 which is the current minimum hourly wage rate for adult workers. That is however the bare minimum as stated in the Employment Standards Act. International can consider paying slightly above the market rate to attract new talent. Overtime pay should also be implemented and every employee who works overtime will receive pay and a half. This is also required as per the Employment Standards Act. Pay equity is important at International and therefore the wage rate for male and female employees will need to be adjusted. Employees regardless of being male or female in the same job positions doing the same tasks should receive equal pay. This will promote fairness and equity in the workforce. Pay grades and ranges should be used when determining the base pay workers receive. Employees may have difference skills, abilities, and productivity levels. Merit increases will recognize individual performance and meet employees’ expectation that their pay will increase over time. Pay ranges also encourage employee commitment to remain with the organization. The ranges for non-technical jobs should be 5 to 15 percent above and…

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