A Wage Proposal template is a set of instructions that outlines an agreement on how to calculate the wages for a job. The purpose of this type of document is to provide a starting point for negotiations between a company and an employee to establish a fair pay range for their work.
A typical wage proposal template will include basic information regarding the employer and employee relationship, the amount of money the employee should be paid, the salary they have agreed to accept, and the amount they can expect to earn over the course of a given work period. It may also provide information regarding any other employment terms, the company wishes to include. A good template will list all of these items and even provide the information needed in a format that can easily be translated to a letter or email. In addition, most of these templates will provide details about any tax implications that may come up.
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It is very important that the template is used as a starting point for negotiating a new or revised employment agreement. Because it is based upon a standard formula, a new offer should be made to reflect the salary being offered by the company.
A standard template will ask the employee to list their employment dates and work experience. These details are important because the template will determine the level of experience and pay the employee will receive throughout their employment contract.
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After providing these basic details the template will look at the estimated average hourly wage, pay period, the number of weeks of service, number of years in the job, and other factors that influence the employee’s pay. This information is then used to calculate an average pay range. A reasonable salary range that is fair to the company and the employee will then be suggested. This range will include any bonuses, or additional perks an employee may have been promised, but which the company has not yet provided and could also include raises in their current pay rate.
After a reasonable range has been established a specific figure on the amount of money an employee should be paid will be indicated. The range should not exceed the maximum wage that is recommended by either. The exact figure may be adjusted upward or downward if the salary range is too high or too low.
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The final document should also outline any other benefits or pay features the employee would like to receive by virtue of their position, along with a final sum of money they must begin working with for the employer to reach their salary range. In many cases this amount is equal to the salary they were offered and the employee will earn a percentage of that amount once the entire package has been reached. This percentage should be clearly indicated on the final wage proposal. An example of a sample salary proposal will outline the final salary of a person working for a specific company and what additional payments would be received if they accept the new job offer.
When a professional wage proposal template is used as a starting point for a negotiation, each party involved is able to present their case with the same knowledge that they would have had when working on their own. The employer can explain why the salary they have offered is the right amount, what benefits they offer, and what they are willing to accept in return for a new agreement. The employee will have an easier time explaining the exact salary range to their potential new employer and will be able to get more information with fewer questions. All of these advantages make a Wage Proposal template a very powerful tool for getting a fair deal on an employment agreement.
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