January 2016
Intermediate to advanced
480 pages
20h 58m
English
4 Identify and discuss the building blocks and structural elements of strategic compensation systems.
As we discussed previously, extrinsic compensation includes both monetary (core compensation) and nonmonetary rewards (employee benefits). Figure 1-2 lists the main compensation building blocks. The building blocks are embedded within a system of three structural elements that ultimately support compensation strategies. These structural elements include internally consistent job structures, market competitive pay structures, and structures that recognize employee contributions.
Compensation System Building Blocks