Business, 30.05.2021 14:00 kokilavani

Joe owns a business which produces wooden furniture. He employs 20 workers in the production department and three workers in the offices. Joe pays all his workers wages which are calculated by time rate, but he is thinking of changing to piece rate. He has a high labour turnover from the factory as his workers are not well motivated.

1. What is meant by piece rate?

2. Identify two examples of fringe benefits Joe could give to his employees.

3. Outline two reasons why many employees leave their job at the furniture company.

4. Explain two ways Joe can improve the job satisfaction of his employees.

5. Do you think a wage calculated by piece rate is a suitable method of payment for all Joe’s employees?

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