If you currently employ people, or intend to in the future, you will want to set rates of pay that will encourage potential applicants to apply and keep existing workers happy and motivated. You must also make sure your pay arrangements are not discriminatory.
Setting suitable rates of pay and deciding on pay systems are major decisions that will have a long-lasting impact on your business.
This guide covers what to consider when setting pay rates, including ensuring equal pay for women and men, avoiding potentially discriminatory pay practices, paying at least the national minimum wage, and using pay to recruit, motivate and retain workers.
It also describes the different types of pay-rate systems and schemes.