{"id":932,"date":"2019-08-21T19:11:51","date_gmt":"2019-08-21T19:11:51","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/?post_type=chapter&#038;p=932"},"modified":"2024-04-25T01:31:53","modified_gmt":"2024-04-25T01:31:53","slug":"introduction-to-types-of-compensation","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/chapter\/introduction-to-types-of-compensation\/","title":{"raw":"Introduction to Types of Compensation","rendered":"Introduction to Types of Compensation"},"content":{"raw":"<h2>What you'll learn to do:\u00a0Discuss various types of compensation<\/h2>\r\nPrior to developing a compensation policy, human resource professionals should develop an understanding of the nature of rewards. In this section, we\u2019ll 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.\r\n\r\n<img class=\"wp-image-1055 size-full aligncenter\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/4056\/2019\/08\/23203517\/realmoneytower.png\" alt=\"Five stacks of silver coins, each stack taller then the last going from left to right.\" width=\"941\" height=\"548\" \/>","rendered":"<h2>What you&#8217;ll learn to do:\u00a0Discuss various types of compensation<\/h2>\n<p>Prior to developing a compensation policy, human resource professionals should develop an understanding of the nature of rewards. In this section, we\u2019ll 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.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-1055 size-full aligncenter\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/4056\/2019\/08\/23203517\/realmoneytower.png\" alt=\"Five stacks of silver coins, each stack taller then the last going from left to right.\" width=\"941\" height=\"548\" \/><\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-932\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Introduction to Types of Compensation. <strong>Authored by<\/strong>: Nina Burokas. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li><strong>Authored by<\/strong>: kschneider2991. <strong>Provided by<\/strong>: Pixabay. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/pixabay.com\/photos\/money-money-tower-coins-euro-2180330\/\">https:\/\/pixabay.com\/photos\/money-money-tower-coins-euro-2180330\/<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/about\/cc0\">CC0: No Rights Reserved<\/a><\/em>. <strong>License Terms<\/strong>: Pixabay License<\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":17,"menu_order":6,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Introduction to Types of Compensation\",\"author\":\"Nina Burokas\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"\",\"author\":\"kschneider2991\",\"organization\":\"Pixabay\",\"url\":\"https:\/\/pixabay.com\/photos\/money-money-tower-coins-euro-2180330\/\",\"project\":\"\",\"license\":\"cc0\",\"license_terms\":\"Pixabay License\"}]","CANDELA_OUTCOMES_GUID":"af397113-5a28-40a1-af10-4d26ef3ac6bf","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-932","chapter","type-chapter","status-publish","hentry"],"part":926,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters\/932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/users\/17"}],"version-history":[{"count":8,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters\/932\/revisions"}],"predecessor-version":[{"id":2288,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters\/932\/revisions\/2288"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/parts\/926"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters\/932\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/media?parent=932"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapter-type?post=932"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/contributor?post=932"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/license?post=932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}