Compensation Plan, Report Essay

January 2017 | 9 pages | ID: CE4C0F5D13EEN
Sadia Saeed

Abstracts

Compensation is the main department of human resource management (Martocchio, 2006). In this section, a fair and equal pay is decided for new recruited staff. This is made to provide several benefits and advantages to employees. Cont... (1250 words of this report)

Contents

INTRODUCTION

Intrinsic Rewards
Extrinsic rewards

1. POINT METHOD OF JOB EVALUATION

Allocation of weight to each factor
Factor analysis of Finance manager
Factor analysis of Quality Assurance Manager
Factor Analysis of sales Coordinator

2. PAY STRUCTURE

Pay grades
Pay Ranges

3. SPECIAL CASES OF COMPENSATION

Incentive compensation
Paying for performance
Executive Compensation
Conclusion
References