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Cash and non-cash rewards for work need to be fair for both an employee and employer for an employment relationship to remain strong and effective. Fair pay is a prerequisite to good work performance. |
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How to determine fair remuneration
Remuneration rates must be at least the current minimum wage rate (see the Department of Labour www.dol. govt.nz for the latest rates). However, paying the minimum wage is not likely to attract the best applicants to a job.
When determining what to pay employees remember that remuneration is influenced by:
- The knowledge, skills and abilities required to perform the job
- The value of the job to the business
- The physical demands of the job
- The amount of training or experience required
- The working conditions associated with the job
- The amount of responsibility associated with the job
- Current market rates as a result of the supply and demand for labour.
For more information:
- Fact Sheet: Remuneration Strategies View PDF (51kb)
- Deciding on Terms and Conditions
