Direct Financial Compensation (Monetary Compensation) 

Learning Objectives

• Summarize the usual components of a total compensation plan and the environment of compensation practice.
• Explain the direct financial compensation practices.
• Discuss job structures and how they are established.
• Summarize competitive pay policies: pay level and pay mix.
• Explain what pay structures are and how they are created.
• Review exceptions to the rules: compensation for sales representatives, contingent workers, and executives.

Indirect Financial Compensation (Employee Benefits) 

·  Learning Objcectives

• Define indirect financial compensation (employee benefits).
• Describe legally required benefits and the various kinds.
• Define discretionary benefits and explain the various types.
• Explain workplace flexibility (work/life balance).
• Describe customized benefit plans.
• Summarize the issues of communicating information about benefit plans.

1.  Describe in a brief essay what say-on-pay policies and clawback policies are. Why do corporations implement these policies?

2.  In a brief essay, discuss some of the reasons why companies chose to offer employee benefits. Also, discuss the reasons the U.S. government established particular legally required benefits.

Expectation:

–  essay form (narrative form) no Bullet points should not to be used

–  at least 1.5 – 2 pages in length, Times New Roman 12-pt font, double-spaced, 1 inch margins and utilizing

–  2 outside scholarly or professional source related to human resource management.

–  APA formatting and citation should be used.

–  Textbook : Title: Human Resource Management  , ISBN: 9780134739724 Authors: Martocchio Publisher: Pearson Edition: 15TH 19