Remuneration and Benefits
The Retribution
It is the compensation that an individual or organization receives as against provision of a good or service offered.
Salary Administration Objectives
Remuneration Elements
Design of a Remuneration System
Indirect Remuneration
or Benefits
Direct Remuneration
or Remuneration
It is the fixed amount that an employee receives regularly, either in the form of monthly salary or in the form of hourly compensation.
Fixed remuneration versus variable remuneration.
Internal equity versus external equity.
Yield vs. Participation
Elitism versus egalitarianism.
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They cover a wide variety of programs such as health insurance, vacations or unemployment benefits.
They are called benefits or benefits
Retain current employees.
Guarantee equality.
Acquisition of qualified personnel.
Encourage proper performance.
Types of Pay for Performance Plans
Team-based plans.
Plans that encompass the entire factory.
Individual-based plans.