Please Describe Forms Employment Compensation Q34194925

Please describe all forms of employment compensation?

Expert Answer

There are two forms of compensation, direct andindirect

Direct Forms of Compensation-

Salary

This type of wage is customarily a set sum of remuneration overa defined period of time. The most traditional form is a dollaramount over a period of one year.

Hourly

This is a dollar amount per hour of service to the employer,more commonly used to compensate unskilled and skilled laborers inthe workforce.

Commission

When compensation is based on volume or some form ofperformance, this is known as commission based remuneration. Otherterms used include piecework or piecemeal

Bonuses

Bonuses are used to increase performance from the employee. Thisis a