Submitted by casperscott on December 11, 2007

• Category: Administration
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Benefits And Drawbacks Of Non-Monetary Compensation

Benefits and Drawbacks of Non-Monetary Compensation
Fogleman (2001) of Kansas State University stated this, “It's important to give a lot of consideration to your business's compensation structure because it ultimately reflects how employees are valued.” Unfortunately, most managers are asking: "What do I have to pay to…?" The question what should be asked is: "What do I want my compensation package to say?"
Elements of a successful rewards system
• Non-monetary Compensation. Includes benefits that do not involve tangible value.
• Direct Compensation. Employee's base wage.
• Indirect Compensation. Everything from legally required programs to health...

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