Elements Total Compensation Describe Employee Benefits Fit Total Compensation Functionplea Q34212293

What are the elements of total compensation? Describe howemployee benefits fit into the total compensation function.Pleaseconduct research to support your findings, citing at least onescholarly source

Expert Answer

The elements of total compensation:

1. Base salary

Which is a fixed amount paid regularly to the employees based onthe set range in the market. They are paid equitably for thecontribution an individual provides in the form of their servicestowards the company.

2. Bonus

A bonus can be considered as a variable amount paid to anindividual based on the aspect of merit or as a commission(for asalesperson, after a sale) in order to reward their efforts.

3. Ownership