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Employee Compensation  Form

Employee Compensation Form

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[Music] let's take a look at what managers need to know about employee compensation compensation includes both the financial and non-financial rewards that organizations give to employees in exchange for their work there are three basic kinds of compensation decisions pay level pay variability and pay structure pay level decisions concern whether to pay workers at a level that is below above or at current market wages companies use job evaluation to set their pay structures job evaluation determines the worth of each job by determining the market value of the knowledge skills and requirements needed to perform it after conducting a job evaluation most companies try to pay the going rate meaning the current market wage there are always companies however whose financial situation causes them to pay considerably less or considerably more than current market wages some companies choose to pay above average wages to attract and keep employees above average market wages can attract a larger

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