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Author Question: Merit pay is a one-time financial award based on productivity. Indicate whether this statement is ... (Read 31 times)

magmichele12

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on: Jul 7, 2018
Merit pay is a one-time financial award based on productivity.
 
  Indicate whether this statement is true or false.

Question 2

What is compensation? Define direct financial, indirect financial and nonfinancial compensation.
 
  What will be an ideal response?


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underwood14

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Reply #1 on: Jul 7, 2018
Answer to Question 1

Answer: FALSE

Answer to Question 2

Answer: Compensation is the total of all rewards provided to employees in return for their services. Direct financial compensation (core compensation) consists of the pay that a person receives in the form of wages, salaries, commissions, and bonuses. Indirect financial compensation (employee benefits) consists of all financial rewards that are not included in direct financial compensation. This form of compensation includes a wide variety of rewards normally received indirectly by the employee such as paid vacation and medical care. Nonfinancial compensation consists of the satisfaction that a person receives from the job itself or from the psychological or physical environment in which the person works.


magmichele12

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Reply 2 on: Jul 7, 2018
:D TYSM

dantucker

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Reply 3 on: Yesterday
Excellent

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