What are the three basic components of compensation?

Question

Can you give some examples with this concern?

Answer 1

The base pay, wage increases, incentives, and benefits are the three fundamental compensation elements that we employ. The financial resources for the components must be divided among them.

Comments

Yopu said it right. These three components are all needed with regards to compensation systems in a particular company.

Answer 2

Compensations is help an organisation in recruiting and employing new staffs, these are the components which is used by these companies, the frist is the basic pay (salary), the time out given to workers and the benefits workers get like health insurance.

Comments

I agree that we need these components to keep the employees. Compensations and among others need to be considered here, too.

Answer 3

Employees are paid a combination of salaries, wages, and benefits in exchange for doing a certain job.  Along with yearly salary and hourly pay.

Answer 4

The 3 component are Base pay or salary either an hourly wage or monthly.The Incentive and other Benefits.example: a man get monthly salary and bonus on early.

Answer 5

The three basic components of compensation are:

Base pay: This is the fixed amount of money an employee is paid for their work, usually on an hourly, daily, or annual basis. Base pay may also include commissions, bonuses, and other forms of guaranteed income.

Benefits: This includes non-wage compensation such as health insurance, retirement plans, paid time off, and other perks.

Incentives: These are financial rewards tied to performance or other specific goals, such as sales quotas or production targets. Examples of incentives include commissions, bonuses, and profit-sharing plans.

Answer 6

The three basic components of compensation are base pay, benefits, and incentives. Base pay is the employee's regular salary or hourly wage, benefits include health insurance, retirement plans, and other perks, while incentives may include bonuses, commissions, or profit-sharing.

Answer 7

The three basic components of compensation are base pay, benefits, and incentives. Base pay refers to the fixed salary or hourly wage that an employee receives. Benefits include non-wage compensation, such as healthcare, retirement plans, and paid time off. Incentives are performance-based compensation, such as bonuses or stock options that reward employee for achieving specific goals.

Answer 8

This includes wage and salary add-on , incentive pay for  performance , base pay , either an hourly wage or salary , this is the frequently major decision factor for employee in deciding to accept the job. 

Answer 9

The three basic components of compensation are base pay, benefits, and incentives.

Examples of base pay include salary, hourly wages, and commissions. Examples of benefits include health insurance, life insurance, vacation time, and retirement plans. Examples of incentives include bonuses, stock options, and profit sharing.

Answer 10

Components of compensation include the following items: -Base pay, either an hourly wage or salary. Base pay is frequently a major decision factor for most employees in deciding to accept the job. -Wage and salary add-ons. -Incentive pay for performance.