Negotiation Of Salary In A Country Like Zimbabwe
A salary is a type of fixed payment from an employer to an individual, that can be specified in a legal employment contract. It is compared to piece wages, in that each assignment, hour or whatever unit it is paid in, is paid once, and not on a regular basis. The salary may also be referred to as a wage premium or a premium, since in some countries it is legally required as part of an agreement between the employer and employee. In most countries, however, the term ‘salary’ is used to mean hourly pay.
In many countries, the term ‘salary’ refers only to regular wages. Other countries, including the United States, use different terminology to describe different types of compensation. In general, however, the compensation for an employee is described by the following: an amount of money paid, given, or given in return for something that the employee does. Typical examples of things that employers buy include housing, vehicles, office facilities, desks, computers, and supplies. Most employees are paid for all of these things, at the same time, usually in the same period.
For the employee buying something with his wages, this would be called an ‘equitable return’ for the employer. Equities are important in this example. The employer is buying the goods or services of the employee ‘with his money’, and the employee is being compensated in the form of a salary. According to common law, however, there is no such thing as ‘equitable return’. The employee must be paid according to what he receives, i.e., a salary. The law does not consider the value of any gifts or benefits to be ‘equitable’ within the meaning of this phrase.
Overtime pay is another example of a payment that is based on a percentage of an employee’s salary. If an employee works for 30 hours in a seven-day period, he is entitled to a minimum wage. However, the employer may also pay him extra for absences, vacation, sick leave, and other special circumstances. In order to receive all of these types of payments, an employee must have been working for the employer for a certain amount of time. In addition, employees are also owed certain types of ‘stocked’ or available time off; these are worked off during breaks, lunch hours, and unpaid time off when an employee has an extended sickness or a physical disability.
The final category of ‘wage’ in employment law is profit. Profits include a commission, bonus, and penalties. Commission is usually referred to as an hourly wage, and refers to the portion of each paycheck that an employee makes from the firm’s revenue. Bonus is referred to as a profit sharing or profit allocation and can come in the form of paid time off or a profit sharing plan where a percentage of the employees sales is put into the employee’s pool. These types of plans are becoming more common among newer companies that have a smaller bottom line.
Negotiation of salary is not an easy task in Zimbabwe. After all, in Zimbabwe, there is no set rate, and determining what an employee makes in one day may not always be the same in the next day. A prospective employee in Zimbabwe should do research to learn the salary and cost of living in the country of his choice before starting any negotiations. Consulting with a certified accountant or an agency that specializes in human resource related issues can be very helpful for those who are interested in outsourcing their salary arrangements.