Defining strategic Compensation
1 Define strategic compensation.
“What is strategic compensation? Answering this question requires that we first answer the question, “What is compensation?”
What is Compensation?
Compensation represents both the intrinsic and extrinsic rewards employees receive for performing their jobs and for their membership as employees. Together, both intrinsic and extrinsic compensation describe a company’s total compensation system, which we will look at more closely in this chapter, and, in even greater detail throughout the remainder of this textbook.
Intrinsic compensation reflects employees’ psychological mind-sets that result from performing their jobs, for example, experiencing a great feeling from the belief that ...
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