Monetary Considerations that Influence the Supply of Labour
- The occupational choices of workers are influenced by a range of monetary and non-monetary factors, which are often held in balance when making decisions about where to work
- Monetary factors are financial payments that workers receive for their labour
The Monetary Factors that Influence Occupational Choices
Factor |
Explanation |
Wages |
|
Salary |
|
Commission |
|
Bonus |
|
Piece rate pay |
|
Performance related pay (PRP) |
|
Share options |
|
Fringe benefits |
|