Individual incentive

The oldest form of compensation is the individual incentive plan, in which the employee is paid for units produced. Today, the individual incentive plan takes several forms: piecework, ...

Payment for time worked

Employees can be paid for the time they work, the output they produce, or a combination of these two factors. The great majority of employees are paid for time worked, in the form of ...

Components of Remuneration

An employee in the organized sector is entitled to several benefits both financial as well as non-financial. To be specific, typical remuneration of an employee comprises wages and ...

Compensation and benefits components

There can be several ways where benefits can be given to employees. Mostly it is given in terms of a CTC or gross salary. Some of the various components of compensation and benefits ...

Difference between direct, indirect and non-financial compensation

By definition, compensation can be understood as total amount of the monetary and non-monetary reimbursement provided to an individual in return for labour. Within this act of repayment, ...

Direct Benefits

Direct benefits are optional, non-wage compensation provided to employees in addition to their normal wages or salaries. These types of benefits may include group insurance (health, ...

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 ...

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 ...

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 ...
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