Compensation Reward and Recognition

(adsbygoogle = window.adsbygoogle || []).push({}); This discipline covers the various forms of direct compensation—i.e. employee’s pay including variable pay, short and long term incentives, company stock awards, as well as promotions ...

Common Employee benefits

(adsbygoogle = window.adsbygoogle || []).push({}); Child and Elder care benefits Child care and elder care are becoming more prevalent in benefits packages. If these issues affect your life, find out what the employer offers either in ...

Descriptions of Compensation & Benefits

Compensation can be linked to business structure and employee recruitment, retention, motivation, performance, feedback, and satisfaction and are typically among the first things potential employees consider when looking for employment. For employees, ...

Compensation & Benefits

When most people hear the term compensation they think about “what a person is paid”. Although this is true, it is only one aspect of a complex topic. Compensation includes not only salary, but also the direct and indirect rewards and ...

Merit Increases

Salary increases are granted to eligible employees in career positions based upon their job performance. Merit eligibility is contingent upon completing three months of service in PPSM. The amount of the increase depends upon the individual’s ...

What Is Skill Based Pay?

Definition Skill‐based pay (SBP) is a compensation system that rewards employees with additional pay in exchange for formal certification of the employee’s mastery of skills, knowledge, and/or competencies. Skill is acquired and observable expertise ...

Compensation Management

Before reading the compensation management topic, one should know the impact of compensation system on the organisation and its gravity if it is not managed effectively. First and last word on compensation management is that, it is core and direct ...

Compensation Carve-out

A compensation carve-out refers to the policy of keeping away a portion of the increase in compensation budget for the highest performing employees. This method is used as a pay for performance measure by many organizations to induce performance amongst ...

Deferred Compensation

Portion of earned Income that is paid to the employee at a later date is named as Deferred Compensation. This is usually practiced to defer tax to a future date when the rate is lower. Examples: -Retirement plan -Pension -Employee stock option All ...

Compensation

Compensation is something, most usually money, which is given to the employees of an organization or company as payment or reparation for their service towards the organization or because of their loss incurred due to any organizational activity. Compensation ...
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