Compensation in Canada and Spain Research Paper

Compensation in Canada and Spain - Research Paper Example But workers cannot refuse to work on statutory holidays if his job requires him to do so (Workrights.ca, â€Å"Statutory Holidays†). The minimum wages have been set by the Canadian government. The minimum wage is the lowest wage that an employee can be paid by his employer. There are strict regulations pertaining to the protection of workers in the absence of unions. The minimum wages are primarily meant to influence the compensation level of employees. The act as introduced in the year 1918 has undergone a lot of changes but every province in Canada is bound to function according to the laws pertaining to minimum wages. Minimum wages are not same in all the provinces. This requires the workers to navigate through the links for each province to collect maximum information on minimum wages prevailing in that area. It is to be noted that all workers are not included in the minimum wages law. Certain designated workers are excluded from the minimum wages rate. This is laid down in the regulations. The list of minimum wages in each province in Canada has been provided in the figure below. The minimum wages have been raised by a number of provinces in Canada in the year 2010. In fact it has been set as a percentage of the gross domestic product per worker. But this has had a negative impact on the Canadian society in the form of increased unemployment. Employers have responded to the rise in minimum wages by resorting to job cuts (Karabegovik, p.2). The compensation and bonus structure in Canada is well formulated and structured. The compensation structure was initiated in Canada in the year 1910. The structure carries proper compensation for employees working in organisations. Along with this, it also establishes other aspects of securities for all employees. Bonuses in Canada are paid depending on the corporate earnings. This is done with the view to reduce the taxable income.