Compensation and Benefit Assignment Answers
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‘Compensation and Benefit’ is one of the most important topics comes in human resource or HR in Management. This part of study influences about the compensations that a company provides to its employees. Compensation means paid to a person. However, there are various terms and different types of compensation which are essential to know about. Homework plays a great role in enhancing your knowledge. In case you have any difficulty in this, then you can easily grab Compensation and Benefit homework answers from us.
An organization also pays to its employees on behalf of their work as their contribution. Now, it is important to understand and explain everything in a proper way. Once you get the right knowledge of basics and all, you can easily understand complex problems.
Explain the term Compensation
Compensation means aggregate of rewards that a company provides to an employee to revert back his labor. Mainly there are three types –
- Direct Financial –
Salary, wage, commission and bonus to an employee are associated with direct Financial.
- Indirect Financial –
This part is associated with that compensation which is not provided to the employee in the form of money directly. For example leaves, education, employee service and retirement plans. Some companies may provide more than that.
- Non financial –
In this hue the compensation is completely different and not related with financial in anyway. However, it provides a complete convenience to an employee. Some examples are opportunity for career development, recognition, advancement and along with that one can easily get suitable condition or environment for his work.
When a student gets homework related with HR, then this particular topic is very important. Moreover, its significance is seen in other topics and terms. So, one must complete his homework. In case of any doubt he can easily take assistance of Compensation and Benefit homework answers from us any time.
‘Compensation and Benefits’ components
- Guaranteed Pay – Salary to every employee or fixed-monetary
- Variable Pay – Non-fixed system of monetary
- Benefits – Supplement provided as car, medical insurance, etc.
- Compensation based on Equity – Stock uses by employees
All these are beneficial and completely profitable for an employee. Benefits are all those facilities that a company provides to each employee for his convenience.
Now, you muse know more about this to complete assignments. Moreover, to get a good grip over assignment one can easily select Compensation and Benefit assignment answers.
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