Order Compensation And Benefits Discussion
The pay model policies play a crucial role in an organization’s pay strategy. The second step of the total compensation strategy identifies with the objectives, alignment, competitiveness, contributions, and management in developing a successful strategy. What are your thoughts on your current or past compensation pay grades, levels, and/or categories, and how you are awarded? What would you change? Please explain.
Your journal entry must be at least 200 words in length. No references or citations are necessary.
Q II PowerPoint Presentation
Instructions
Order Compensation And Benefits Discussion
Compensation: Direct and Indirect = Total Compensation (Research)
Per the textbook, compensation can come in the form of financial returns, tangible services, and benefits. The two types of compensation are direct and indirect. Direct consists of pay for work performed. Indirect consists of the perks and benefits associated with the position/employment.
Imagine that you are a human resources (HR) manager, and it is your responsibility to identify data to help strategize, benchmark, and develop proper pay compensation for all positions within the organization. There are tons of software, vendors, and/or other services available to help with developing the pay grades, levels, and/or categories. Some sites you may consider using include the www.bls.gov, website where you can search via the Occupational Outlook Handbook and the www.onetonline.gov website where you can select career choice, scroll down to Wages
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