Next year baldwin plans to include an additional performance bonus of 0.5% in its compensation plan. this incentive will be provided in addition to the annual raise, if productivity goals are reached. assuming the goals are reached, how much will baldwin pay its employees per hour?
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"Baldwin currently pays his employees with $50 per hour and promises to give an additional performance bonus of 0.5%in compensation if the productivity goals are reached.
Assuming that he has 500 employees, he needs to pay his employees:
$50 * (1+0.005) = $50.25/hour will become the new rate of each employee,
If he has 500 employees: 500 * $50.25 = $25,125
He has to pay a total of $25,125 per hour in total.
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