Benefits are the most common type of indirect compensation. Base pay is basic compensation that an employee receives, often as an hourly wage or salary.
Wages are payments calculated directly on the basis of time worked by employees. Salary is consistent payments made each period regardless of the number of hours worked. Variable pay is compensation linked directly to the individual, team, or organizational performance.
A benefit is an indirect reward given to an employee or group of employees as part of membership in the organization, regardless of performance.
Base pay and variable pay are the most common forms of direct compensation. The most common indirect compensation is employee benefits.
Q1. having studied the different components of compensation in most companies, in a minimum of 150 words discuss, what would you as an individual prefer Ă˘â‚¬â€ś a higher base pay with less indirect reward benefits or a lower base pay but higher indirect reward benefits.
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