HR Basics: Compensation

HR Basics is a series of short courses, designed to highlight what you need to know about a particular human resource management topic. In today’s HR Basics, we explore compensation, highlighting the three elements of a base compensation system - internal alignment, external competitiveness and compensation management.

Compensation is pay provided by an employer to an employee in return for work. Total Rewards is a concept that describes all the tools available to an employer that may be used to attract, motivate and retain employees.

Compensation is comprised of two core elements - fixed Pay or base pay that does not vary and variable pay which changes with performance or results. A basic model for building a compensation plan includes three elements - internal alignment, external competitiveness and compensation management. Seven steps, or actions are organized in the three critical areas of compensation plan development. In this course we will take a look at each step.

Compensation is a critical element of your total rewards strategy. A strong base pay structure is built through internal alignment, external competitiveness, and compensation management.

[YourDailyTorment]

THANK YOU! You effectively summarized 5 weeks and 8 chapters of my Compensation and benefits class.

[gavinwieland]

This video helps me out with my Human Resource Management class! Thank you for helping me to succeed in that class!

[primrose_m]

This synopsis of the module of really helpful and simply yet insightful. Thank you

[iwayanbudiyasinto]

Thank You, great explain, easy to understand.

[anannyachakraborty.]

Compensation is the sum of all the rewards and achievements that a person receives from his work.
Job analysis includes a systematic evaluation of the candidature and the skills that an employee posses.

[cleftlannights]

The best video on this subject I have seen so far...

[senorhayomayo]

Thank you for the content. Very well done!

[buhaycasinotv]

I need for salary computation and deductions.

[lfeducator]

This is my request for permission to present this video to my class

[madritjanaki]

Hr la ennaku performance compensation letter tharala
Partialllity pathithingas neengala manitharagala
Work pannavngaluku
Kidaikalla chhee
Enaku ennai kurachal

[matthewbryson]

Thank you, great video. Very informative

[allanonyango]

Thanks for the tutorial, was very informative

[samibenyoussef]

So, when do you expect THE BIG WORLD COMPENSATION?

[sofiayika]

I literally didn't understand a word he was saying he was using so many big words

[woman]

Compensation desh ki sewa hai hai ki nehi deshbhakt

[hermansulaiman]

Thank you for the explanation, very helpful @Dendi H, UT Indonesia, 014008415