Differentiation between base pay and variable pay
Posted by zonan | Posted in base pay , salary , variable pay , wage
Base Pay-Is the basic monetary compensation that an employee receives, usually as a wage or salary.
Wages- Payments calculated on the amount of time worked.
Salaries- Consistent payments made each period regardless of the number of hours worked in the period.
Wages- Payments calculated on the amount of time worked.
Salaries- Consistent payments made each period regardless of the number of hours worked in the period.
Variable Pay- Compensation linked to individual, team, or organizational performance.Traditionally known as incentive; variable pay plans to attempt to provide tangible rewards to employees for performances beyond normal expectation.
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