Drawing from the above compensation typologies, Berge

Drawing from the above compensation typologies, Berger (2000) in Nel et al. (2011) argue that 21st century compensation practices are like to be shaped by supply and demand influences within the labour market, quite

apart from an enlightened employee pool whose issues include work environment and learning opportunities, as well as salary and benefits. The contemporary model of compensation according to Berger (2000) includes visible paycheck which corresponds with base salary incentives and; invisible paycheck which are work-life and personal growth incentives. Cassandro (2008) also categories six types of indirect pay to include: (i) benefits mandated by law, including employer contributions to pension plan, employment insurance, and the workplace safety and insurance board; (ii) deferred income plans, more commonly known as retirement or pension plans; (iii) health-related benefits such as life, medical, dental, or disability insurance; (iv) pay for time not worked, such as holidays and leaves; (v) employee services, ranging from employee assistance programmes to food services; and (vi) miscellaneous benefits ranging from provision of agency cars to purchase discounts on agency products or services. McClune (1997) in Nel et al. (2011) categorises compensation to include (1) direct compensation (cash compensation, basic salary, deferred cash, share options, share ownership, restricted shares); (2) employee benefits (retirement benefits, death benefits, disability benefits, medical benefits); (3) perquisite/fringe benefits (cars, holidays, loans); and (4) incentives (bonuses, profit-sharing, recognition). According to Osibanjo, Adeniji, Falola, and Heirsmac (2014), “direct compensation includes wages, salaries, bonuses or commission based on performances, overtime work, holiday premium while indirect compensation is paid as medical benefits, housing allowance, meal allowance, utility allowances, incentive bonus, shift allowances, hospitalisation expenses, out of station allowance, vehicle loan benefits, annual leave allowances, car basic allowances, etc.” The contention of this study therefore is that there is a paradigm shift

 

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