Compensation And Benefits-LO4-Total Rewards Program

What is Included in a Total Rewards Package? The package typically contains elements of compensation, benefits, work-life benefits, performance recognition and career pathing opportunities. Following are general suggestions of what can be considered when putting together a total rewards package 1. COMPENSATION: In general, most employees regardless of title or role within the organization have an…

Compensation & Benefits-LO2-Definitions

Definitions •Salary  A fixed regular payment, typically paid on a monthly basis but often expressed as an annual sum, made by an employer to an employee, especially a professional or white-collar worker •Wage  A fixed regular payment earned for work or services, typically paid on a daily or weekly basis. A wage is monetary compensation (or remuneration, personnel…