Legislation Essay
What are ‘pay structures’ and what points would a practice aim at to determine their pay structure?
How would these points be linked to their strategic and operational plans?
A practice needs to undertake research on current practices and recent developments for remuneration strategy to keep abreast of the latest legislative requirements.
Provide with one (1) example, what research could be undertaken to identify recent developments for remuneration strategies and the latest legislative requirements.
How would a practice develop their options for the different remuneration packages
Provide with one (1) example ‘option’ undertaken by your practice and show how this option links to your practice’s objectives.
Why is it important for the practice to ensure that agreements are made for remuneration policies and incentive plans?
How are these agreements documented?
A practice may conduct research on various groups, other industrial agreements and/or survey results before implementing their remuneration strategy.
Conduct a research of occupational groups and identify those which are industrial agreement based.
Briefly explain what ‘market rates’ are. Provide with an example, a (simple) market survey that ensures a practice’s required level of competitiveness for particular occupational groups is maintained.
Provide with an example of how a practice would align their remuneration and benefits plans with their performance management system.
What steps are needed to ensure employees within a practice receive their minimum entitlements?
Provide with an example a policy and/or legal requirement relating to the practice showing steps undertaken ensuring entitlements are provided.
What are ‘salary packages’ and how does a practice ensure their salary packagesdocomply with their policies and legal requirements. Include in your response the areas covering fringe benefits tax (FBT) and superannuation.
Briefly explain ‘incentives’ and if included, how does the practice ensure their incentive arrangementscomply with the practice’s remuneration strategy?
How do you measure the effectiveness of the remuneration strategy? Briefly explain how the practice consults with its managers and employees about the effectiveness of their remuneration strategy.
cies and legal requirements their remuneration strategies will require changes.
Briefly explain how amendments could be made to these strategies and plans.
Who would be involved?
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