It is the basic pay given to the employee for the actual work rendered usually in the form of salary or wage.
BASE PAY
It is the pay linked to actual accomplishment in performance such as bonuses or incentives based on a target sales quota or target productivity. Incentives can be provided for all employees regardless of rank.
VARIABLE PAY
These are indirect rewards which may either be government-mandated or voluntarily given by the employer.
BENEFITS
It can be in the form of a salary or wage.
DIRECT COMPENSATION
Refers to nonmonetary aspects of compensation
INDIRECT COMPENSATION
Aligning pay with competitors calculate the risk of being competitive
EXTERNAL COMPETITIVENESS
One of the challenges of managers is to make the employees happy with their pay.
INTERNAL ALIGNMENT
This is a major dilemma among managers is to consider employee contribution to performance as a factor of pay.
EMPLOYEE CONTRIBUTION
It is referred to as the written summary of all the duties and responsibilities of a particular job position.
JOB DESCRIPTION
Defined as the process of determining all the information specific to a particular job.
JOB ANALYSIS
It is the highest paying jobs for fresh graduates.
LAW/LEGAL SERVICES
Refers to the process of obtaining the current pays of employers for different jobs which are eventually used to establish pay rates for an organization.
MARKET RATE ANALYSIS
NWPC stands for?
NATIONAL WAGE AND PRODUCTIVITY COMISSION
POEA stands for?
PHILIPPINE OVERSEAS EMPLOYMENT ADMINISTRATION
LWOP stands for?
LEAVE WITOUT PAY
NEO stands for?
NEW EMPLOYEE ORIENTATION
