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Chapter 11 2006

Chapter 11 2006

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Published by b.mars

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Published by: b.mars on Nov 22, 2008
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06/23/2010

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CHAPTER 11:COMPENSATION
Copyright © 2005 South-Western. All rights reserved. footer 
 
Copyright © 2005 South-Western. All rights reserved.
1–2
Importance of CompensationImportance of Compensation
Impacts employer’s ability to attract, motivate, andImpacts employer’s ability to attract, motivate, andretain employeesretain employeesEnsure optimal levels of employee performance inEnsure optimal levels of employee performance inmeeting organization’s strategic objectivesmeeting organization’s strategic objectivesCompensation’s componentsCompensation’s components
DirectDirectcompensation in wages or salarycompensation in wages or salary
Base pay (hourly, weekly, monthly)Base pay (hourly, weekly, monthly)Incentives (sales bonuses and/or commissions)Incentives (sales bonuses and/or commissions)
IndirectIndirectcompensation in form of benefitscompensation in form of benefits
Legally required benefits (e.g., Social Security)Legally required benefits (e.g., Social Security)Optional (e.g., group health benefits)Optional (e.g., group health benefits)
 
Copyright © 2005 South-Western. All rights reserved.
1–3
Exhibit 11-1Exhibit 11-1
Compensation SystemCompensation System

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