Compensation: Direct and Indirect = Total Compensation (Research)
Per the textbook, compensation can
come in the form of financial returns, tangible services, and benefits. The two types of compensation are direct and indirect. Direct consists of pay for work performed. Indirect consists of the perks and benefits associated with the position/employment.
Imagine that you are a human resources (HR) manager, and it is your responsibility to identify data to help strategize, benchmark, and develop proper pay compensation for all positions within the organization. There are tons of software, vendors, and/or other services available to help with developing the pay grades, levels, and/or categories; however, the following website provides data and insight into the total compensation package: salary.com. You decide to use this website to help you develop your pay model and total compensation strategy.
Make an eight- to ten-slide PowerPoint presentation. You will first choose a job title and a location to present the salary.com findings/results. Imagine that you are presenting to your company leaders, and ensure that you identify the following components:
- core compensation (direct compensation),
- benefits (indirect compensation), and
- benchmark benefits with the industry average.
Below are the steps to access the material.
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