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This document discusses effective compensation systems and their components. It outlines two main types of compensation systems: direct and indirect. Direct includes wages and salaries while indirect includes bonuses, commissions, and paid leave. Components of an effective compensation system include acquiring qualified personnel, retaining employees, ensuring equality, rewarding desired behavior, and controlling costs. Incentive compensation systems aim to motivate employees and can include pay for knowledge, bonus pay, profit sharing, and employee stock ownership. Factors that affect compensation include market rates, industry trends, productivity, and job evaluation. Examples provided are from Musanada, AD Municipality, and Asead.
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Hr
- 1. Effective Compensation Butti Almazrouei Hassan Hamed Moh’d Al Jufri SECTION C1B
- 3. Types of Compensation System?
- 4. Compensation and its Benefits
- 5. Components of Effective Compensation
- 8. Comparison
- 11. Examples
- 13. THERE ARE TWO TYPES Compensation System DIRECT/INDIRECT Wages , Salaries BONUSES Commissions Paid Leave INSURANCE Medical Benefits HOUSING ALLOWANCE
- 14. BENEFETS ? BASE COMPENSATION Hourly wages paid to an Individual FLEXIBLE BENEFITS A program allows employee to choose from a range of benefits options. FRINGE BENEFITS Nonmonetary Compensation in the form of Health insurance, retirement plans, etc ..
- 15. Components of Effective Compensation Acquire Qualified Personnel Retain present Employees Ensure Equality Reward Desired Behavior Control Costs
- 16. Incentive Compensation System PAY FOR KNOWLEDGE BONUS PAY PROFIT SHARING GAIN SHARING EMPLOYEE STOCK OWNERSHIP
- 17. Maslow's Hierarchy of Needs
- 19. Victor Vroom “Theory of Motivation” Expectancy Instrumentality Valence
- 20. Factors Affecting Compensation Market Rates Industry Trends Productivity Based Job Evaluation
- 21. EXAMPLES TWO : MUSANADA THREE : AD Municipality ONE : ASEAD
- 22. In Conclusion THANK YOU FOR YOU TIME
Editor's Notes
- Reward an Employee Receive in Exchange for performance in an Organizational Task
- Reward an Employee Receive in Exchange for performance in an Organizational Task