Compensation Schemes
The methods a business uses to pay and reward employees, including wages, salaries, commission, piece rate pay, and profit sharing.
Which scheme a business uses depends on the industry, the employee's role, legal guidelines such as minimum wage, and how hard the business must outbid rivals to secure high-quality employees. Compensation may also include benefits.
Taught In
See Also
4.1.D.2 · 4.1.D.3 · 4.1.D.4