chapter 11. Compensation: Methods and Policies. Adequate. Equitable. Incentive-providing. A Compensation system should be: (* focus of this chapter). Cost-effective*. Acceptable to the employee*. Secure*. Balanced*.
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Compensation: Methods and Policies
A Compensation system should be:
(* focus of this chapter)
Acceptable to the employee*
To the individual employee, the most important compensation decision is how much he or she will earn.
Three questions need to be addressed:
Payment for Time Worked
Variable Pay: Incentive Compensation
Business Plan Gainsharing
More likely to be based on comparative performance:
Pay Secrecy or Openness