Develop a compensation plan for an organization that promotes both internal and external pay equity.
Additional Incentive Programs
There are many types of monetary compensation not tied directly to salary or hourly pay.
• Explain the difference between regular pay (for normal work hours and duties) and other forms of direct compensation, such as bonuses.
• How would you recommend that an organization blend the types of pay to maximize employee motivation?
Try searching for the words in the assignments, like:
• Hourly pay
• Salary pay
• Direct compensation
• Indirect compensation (employee benefits)
• Bonus pay
• Medial insurance
• retirement funds
• Motivation pay and company goals
• Incentives and incentive plans
• Merit pay
• Merit increases
• Merit increases and salaries