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A Small Business Guide to Remuneration

A Small Business Guide to Remuneration

The remuneration package is what binds you and your employees together – fail to pitch and fine-tune it correctly, and you will find yourself unable to attract or keep the standard of workers you want and need (no matter how rewarding you think the job is in itself). If you want to employ and maintain the best possible workforce, you must be able to sell the package properly and tailor the rewards to ensure employees stay with you. This guide will help you to calculate what wage to offer, keep in line with minimum wage regulations, organise pay reviews and rewards, and more. How do I know what to pay? Any remuneration package needs to comply with the basic levels of pay set by law – national minimum wage (NMW). NMW currently stands at £3.87 for workers aged 16-17, £5.30 for workers aged 18... »