2Compensation and BenefitsIntroductionAs the new HR manager for Java Corp, which is domestic cold coffee and tea company. I am currently looking for a new candidate to fill an executive-level position I have open for our new office opening in London, England. The term of the assignment will be two years and I will be creating a preliminary compensation package for this position.Key Factors Regarding Base Pay and Pay ConsiderationsThe term compensation refers to the combination of wages, salaries, and benefits an employee receives in exchange for work (Mayhew, 2019). Compensation can include a compilation of items including hourly wages or annual salary, bonus payments, incentives, and benefits. A compensation package can have several components. A compensation package for an employee refers to all the items in which the compensation is paid and for what purpose employees receive case bonuses, salary increases, and incentives (Mayhew, 2019). Base pay or the base salary is the beginning rate of compensation that you will receive as a new employee. For an executive level that Java Corp is looking for, this will be an annual salary that the employee would make in exchange for their services within the company. Major
