fringe benefits are option 1)supplementary compensation 2) base compensation 3) merit plan 4) bonus
Answers
Answer:
Learn about all the types of compensation available for employees.
The level of compensation is usually established by determining what employees at other firms with similar job characteristics earn. Information on compensation levels can be obtained by conducting a salary survey or from various publications that report salary levels for different jobs.
The wide differences in compensation among job positions are attributed to differences in the supply of people who have a particular skill and the demand for people with that skills.
The types of employee compensation are:-
1. Salary 2. Stock Option 3. Commissions 4. Bonuses 5. Profit Sharing 6. Employee Benefits 7. Perquisites
8. Base Compensation 9. Supplementary Compensation 10. Variable Compensation 11. Intrinsic vs. Extrinsic Rewards 12. Financial vs. Nonfinancial Rewards 13. Performance-based vs. Membership-based Rewards.
Explanation:
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Explanation:
The level of compensation is usually established by determining what employees at other firms with similar job characteristics earn. Information on compensation levels can be obtained by conducting a salary survey or from various publications that report salary levels for different jobs.
The wide differences in compensation among job positions are attributed to differences in the supply of people who have a particular skill and the demand for people with that skill.
The types of employee compensation are:-
1. Salary 2. Stock Option 3. Commissions 4. Bonuses 5. Profit Sharing 6. Employee Benefits 7. Perquisites
8. Base Compensation 9. Supplementary Compensation 10. Variable Compensation 11. Intrinsic vs. Extrinsic Rewards 12. Financial vs. Nonfinancial Rewards 13. Performance-based vs. Membership-based Rewards.
List of all Types of Employee Compensation: Salary, Stock Options, Commissions, Bonuses, Profit Sharing Perquisites and Few Others
Types of Employee Compensation- Typical Elements: Salary, Stock Options, Commissions, Bonuses, Profit Sharing, Employee Benefits and Perquisites
Firms attempt to reward their employees by providing adequate compensation. The level of compensation is usually established by determining what employees at other firms with similar job characteristics earn. Information on compensation levels can be obtained by conducting a salary survey or from various publications that report salary levels for different jobs
The wide differences in compensation among job positions are attributed to differences in the supply of people who have a particular skill and the demand for people with that skill.
For example, demand for employees who have extensive experience in business financing decisions is high, but the supply of people with such experience is limited. Therefore, firms offer a high level of compensation to attract these people. Conversely, the supply of people who can qualify as a clerk is large, so firms can offer relatively low compensation to hire clerks.
A compensation package consists of the total monetary compensation and benefits offered to employees. Some employees think of their compensation only in terms of their salary, but the benefits that some firms offer may be more valuable than the salary. The typical elements of a compensation package are salary, stock options, commissions, bonuses, profit sharing, benefits, and perquisites.