Financial and Non Financial Compensation

The four week chapter is very interesting to me. Because rewards including economic, non-economic, and security are important to me in the workplace. Prior to this course, I reviewed these topics from the perspective of employees, not employers. In order to clearly understand the problem, I understand that it is important to see the problem from two viewpoints. This week I chose some of the deepest subtopics for me in these chapters. These include direct economic compensation, non-monetary compensation, and determinants of health and safety benefits.

Salaries can be defined as remuneration that an employee receives for labor. Remuneration can be divided into three aspects: direct economic fee, indirect economic fee and non-economic remuneration. Direct economic fees include wages in the form of wages, salaries, bonuses and commissions paid periodically. Indirect economic compensation includes all monetary incentives that are not included in direct compensation and includes a social relationship between employer and employee, such as benefits, leave, retirement plan, education and employee services We will form part of the contract. Non-economic fee refers to career development and promotion opportunities, opportunity recognition, working conditions and conditions.

Next I will discuss fees and benefits. Salary is the sum of all the remuneration that is provided to the employee in exchange for the service. There are two types of compensation, monetary and non-monetary. Direct economic compensation includes wages earned by people in the form of wages, salaries, commissions, and bonuses. Indirect economic compensation includes social security, unemployment insurance, compensation for workers, compensation obliged by laws such as family and sick leave, paid holidays and sick leave, health insurance, benefits (retirement) Including voluntary compensation such as childcare service. Nursing, refund of tuition fee, health service (Jim). Non-economic compensation includes the satisfaction of individuals from the work itself, or from the psychological and / or physical environment of the work. I really like the work I am doing and the types of projects I am working on.

Executive remuneration or officer compensation consists of monetary remuneration and other non-monetary remuneration received by executives from the company. It is usually a mixture of benefits and allowances of company stocks, salaries, bonuses, stocks or call options, ideally to take into account the government's regulations, tax laws, organization and officials' desire, and remuneration for performance It has been constructed. In the 30 years since the 1980 's, executive remuneration rose sharply in comparison with wages of American general workers, but in other countries it is relatively small. The observer believes that this rise can be a natural and profitable competition for poor business talent, which can significantly increase the shareholder value of large companies or be a socially harmful phenomenon caused by social and political change making executives I think that it is a result. They can better control their own wages