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2 pages/β‰ˆ550 words
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APA
Subject:
Management
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Essay
Language:
English (U.S.)
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Topic:

Difference between Regular Pay and Other Forms of Direct Compensation

Essay Instructions:

Type: Discussion Board
Unit: Performance and Compensation
Due Date: Thu
Grading Type: Numeric
Points Possible: 75
Points Earned: Points Earnednot available
Deliverable Length: 2 Parts: See Assignment Details
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Assignment Details
Assignment Description
Reminder: Initial Discussion Board posts due by Thursday, responses due by Saturday
Students will be expected to post their first initial discussion board posting by Thursday of each week. Discussion posts will be graded and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.
Students are expected to post their responses to peers by Saturday. NOTE: All submission posting times are based on midnight Central Time.
Additional Incentive Programs
There are many types of monetary compensation not tied directly to salary or hourly pay.
Primary Task Response: Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas:
Explain the difference between regular pay (for normal work hours and duties) and other forms of direct compensation, such as bonuses.
How would you recommend that an organization blend the types of pay to maximize employee motivation?

Essay Sample Content Preview:

Discussion Board
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DISCUSSION BOARD
Explain the difference between regular pay (for normal work hours and duties) and other forms of direct compensation, such as bonuses.
Understanding various types of compensation is vital for business owners, payroll specialists, and Human Resource managers. It is also important to note that businesses have a legal obligation to compensate employees for their labor and explain the kind of compensation they are receiving. Since compensation takes different forms, every employee needs to understand how compensation works and the different types of compensation that apply in their case. Although this seems like a complicated situation to some individuals, it makes sense when everyone is aware of the value of the compensation package.
Regular pay is the kind of compensation that an employee receives as wages for the services performed during the employment. According to Kopel & Putz (2021), regular pay can be total monthly remuneration minus statutory exclusions, divided by hours worked for which the wages were paid. This is different from other types of compensation like bonuses, incentive pay, tips, sales commission, and non-monetary compensation. Kumari, Barkat Ali & Abbas (2021) note that commissions and bonuses are common in sales when a person accomplishes the set goals. This means that the amount of commission increases with the number of goals one achieves. At the same time, the commission is also based on profits and gross margin. For example, one is likelier to make more money by selling a high-value product. On the other hand, bonuses are different because they are paid yearly or quarterly, depending on the organization. Some rewards for performing well are split across a department, team, or region.
Further, bonuses are not considered as incentives becaus...
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