Role of Compensation

Abstract

The Industrial revolution brought many new social changes and a need for a fair and equitable system of histrions compensation. Workers are no longer paid with salt as retribution in exchange for labor performed as was done to net income the soldiers in Rome. Workers now require an exchange of money for their clock time and labor and compensation if they are injured on the job.

Role of Compensation

Compensation takes the forms of advantage and benefits. The pay structure consists of:

proceeds which are a monetary defrayment for services performed on an hourly basis for specified character of labor (blue-collar worker) either an employee or employer (working for someone else). Wage pasture is usually the main monetary concern discussed between the worker and the potential employer when negotiating employment or an employment guarantee.

Salary is often interchanged with the account book wage, but salary is usually governed by an employment contract for a fixed period of time such as a week, month, or per year that requires the employee to possess special study or abilities associated to that particular job position (usually referred to as a white-collar worker).

Employee Benefits are offered from many companies to attract, retrain, improve morale and fight employee productivity.



Benefits are usually offered in addition to general wages in a wide variety from connection to company in the form of, but are non special to, paid holidays, vacations, health insurance, dental plans, sick leave, pensions, and 401(k) that are not based on the employees performance. (Mosely, Pietri, and Megginson, 1995).

channelise Me the Money! Cuba Gooding Jr. demanded in his Oscar winning performance in the movie Jerry McGuire. Workers soon began development this line all across the United States. Show me the money, they asked of their employers. Show me the money, and Ill improve my...

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