Compensation Case

Compensation is all forms of financial returns and tangible service and benefits employees receive as part of an employment relationship. People don't just go to work and don't expect to get paid for what they do. Who wants to work to make another man or woman money and get nothing in return for their service. There are many different types of compensation that company offer. Employee compensation and benefits package can be the deciding factor for many potential employees. Company must offer an exceptional benefit package if it want to hire and keep top employees. Although money isn't everything, it certainly is one of the top issues potential employees look at when looking for a company too work for. What you offer to job candidates may make or break your company from getting the best candidate for the job. The three most looked when looking at a company is; cash compensation, benefits, relational returns.1 2

Base wage is the cash compensation that an employer pays for the work performed. Many employees feel that don't get paid for the work that do for the company. We as employees always feel as if we could paid more than we make. Employee so often we look at one another all during the same job but some time we don't all get paid the same and must of the time we feel some employees get paid to much for the little work that they do. Base wage tends to reflect the value of the work or skills and generally ignores differences attributable to individual employees. However, some individual operators may receive more because of their experience and/or performance. Periodic the base wage may change because of the overall cost of living, or change in experience or skill. Another type of cash compensation is incentives. Incentives tie pay increases directly to performance. However, incentives differ from merit adjustment. Incentives don't change the base wage it have to be earn each year. Incentives can be short-or long-term. Cash compensation is a key role for company's finding the best employees for the job but not the only important compensation employees look for in company's.1

Benefits is a form compensation that company's offer too their employees besides cash compensation. Medical insurance, retirement programs, life insurance, and savings plans are the common benefits that most company's offer. To some employees the benefits is more important than the cash compensation. Company offer these things to help protect employees from the financial risks inherent in daily life. Often companies can provide these protections to employees more cheaply than employees can obtain them for themselves. Work/Life balance is another form of benefits that company's try to provide their employees with. The offer vacations days, sick days , and jury duty. This is most important to have at any job because everyone need family time and time away