Difference between direct, indirect and non-financial compensation

(adsbygoogle = window.adsbygoogle || []).push({}); By definition, compensation can be understood as total amount of the monetary and non-monetary reimbursement provided ...

Direct Benefits

(adsbygoogle = window.adsbygoogle || []).push({}); Direct benefits are optional, non-wage compensation provided to employees in addition to their normal wages or salaries. ...

Profit sharing

Profit sharing refers to various incentive plans introduced by businesses that provide direct or indirect payments to employees that depend on company’s profitability in addition ...

Compensation Reward and Recognition

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

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 ...

Theories of Compensation Management

Definition: The Compensation is the remuneration given to the employees for the work they do for the organization. In other words, an employee is entitled to both the financial and ...

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 ...

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 ...

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 ...

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, ...
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