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Compensation 6th Edition by Jerry Newman,Margaret Yap, Bruce Gerhart
Edition 6ISBN: 9781260065886Compensation 6th Edition by Jerry Newman,Margaret Yap, Bruce Gerhart
Edition 6ISBN: 9781260065886 Exercise 2
List all the forms of pay you receive from work. Compare yours to someone else's list. Explain any differences.
Explanation
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Different pay forms would include pay received directly as cash such as: base, merit, incentives, and cost-of-living adjustments. Pay received indirectly includes: pensions, medical insurance, and programs to help balance work and life demands.
Someone else's differences could include financial incentives, such as piece rate production or salary and commission base pay for employees. Other forms of pay can be straight commission, especially for a sales position or any number of indirect pay benefits. These benefits include health insurance, life insurance, dental, optical and prescription drug plans. Mandatory fringe benefits required by employers are employment insurance and workers compensation.
Compensation differences occur depending on the size of the company, type of company and the financial status of the company.
Someone else's differences could include financial incentives, such as piece rate production or salary and commission base pay for employees. Other forms of pay can be straight commission, especially for a sales position or any number of indirect pay benefits. These benefits include health insurance, life insurance, dental, optical and prescription drug plans. Mandatory fringe benefits required by employers are employment insurance and workers compensation.
Compensation differences occur depending on the size of the company, type of company and the financial status of the company.
Compensation 6th Edition by Jerry Newman,Margaret Yap, Bruce Gerhart
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