Last Updated 27 Jan 2021

# Create a raffle ticket corresponding to the numbers

Category Corporations, Finance
Words 287 (1 page)
Views 144

There several ways of being fair in the distribution of raises (or bonuses). It should be specific first that the 25,000 raise is a one time disbursement and not a continuing one.

A fair distribution for raises can mean dividing the money equally among all those who would be receiving the raise, but this is not the common practice. One way to compute the distribution of the raises in compensation should consider the tenure of the services rendered.

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A fair distribution can mean that the longer the length of service rendered should have a larger share of the US\$ 25,000.00. It can be done by summing up all the years of service of each employee then getting the percentage of years of service rendered. This is done by dividing the number of years rendered by one, by the total number of years everybody has rendered, multiply by 100, thereby deriving the percentage. This percentage is multiplied by 25,000 and the corresponding product should be the amount the individual will receive.

Another way of having a fair distribution is divide the lump sum of 25,000 into unequal amounts, some higher, some lower and some average. Put the divided amounts in envelopes and number the envelopes outside. Make sure that the number of envelopes is equal to the number of employees. Create a raffle ticket corresponding to the numbers of envelops and make everybody draw a number.

If the 25,000 will not be distributed, what can be done is to create a savings and loan association. From this association, the employees can borrow money for providential purposes and repay through salary deduction with interest earnings. At the end of a fiscal year, the earning from the savings association can be distributed equally among everybody.

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