Designing Compensation and Benefit Packages

Learning Objective

  • Describe basic elements of a compensation package.
  • Explain different features of base pay and employee benefit plans.
  • Explain various types of individual incentives, including the strengths and weaknesses of each form of incentive.
  • Explain various types of group and organizational incentives, including the strengths and weaknesses of each form of incentive.
  • Create compensation packages that align the mix of individual, group, and organizational incentives with human resource strategy

Compensation Package

The mix of salary, benefits, and other incentives that employees receive from the organization. Money paid as wages or salary is the largest component of most compensation packages. Some workers are paid a fixed amount for each time period, but for others the amount varies with performance.

Download materi di sini: Pertemuan 12 MSDM 2015

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