Introduction to Types of Compensation

What you’ll learn to do: Discuss various types of compensation

Prior to developing a compensation policy, human resource professionals should develop an understanding of the nature of rewards. In this section, we’ll discuss the connection between compensation and motivation, differentiate between intrinsic and extrinsic rewards, and discuss types of compensation, factors affecting compensation, and methods of developing a pay structure.

Five stacks of silver coins, each stack taller then the last going from left to right.