From the course: Introduction to the PHR Certification Exam
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HR's role in facilitating compensation structures
From the course: Introduction to the PHR Certification Exam
HR's role in facilitating compensation structures
- What if you were offered a base salary, bonus potential, free tuition for your children and yourself, a free home, a car, and the option to live anywhere in the world? Well, you'd probably pinch yourself first to make sure you're awake because that's an amazing opportunity. That's exactly what HR is trying to accomplish as we design pay systems to attract, engage, and retain talent. So let's discuss how pay systems are designed and how HR pros measure their effectiveness. Compensation comes in two forms, either direct or indirect. Direct compensation includes any payments made directly to an employee, such as base pay or commissions. Indirect compensation includes paid time off, holiday pay, or 401(k) contributions made by the employer on the employee's behalf. When designing pay systems, it's important to understand the difference between exempt and nonexempt employees. Certain rules about wages are determined based on what the employee classification is. For example, nonexempt…
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