Benefits And Benefits Of Human Resources Manager Essay example

1427 Words Dec 6th, 2016 6 Pages
Introduction
As we all know that Human Resources Manager is a vital asset to any company. A compensation survey is a tool used to determine the typical incentives that are provided to employees across a specific job, industry, and geographic region. Data is collected from multiple employers and is analyzed to develop an understanding of the overall amount of compensation paid (Weathington & Weathington, 2016). One way companies entice and maintain the best human resources managers is by offering great all-inclusive compensation packages. Whereas larger companies and government employers tend to provide all-inclusive compensation packages, smaller companies tend to provide only a few compensations to their employers.
A compensation package are direct benefits such as salary, allowances, bonus, commission and indirect benefits such as insurance, pension plans, vacations that an employee receives from an employer (Compensation Package, 2016). Human resources manager job positions usually have lot of compensation packages provided to them. There are three compensation packages and they are direct compensation, indirect compensation and non-monetary compensation. Non-monetary compensation is any benefits an employee receives from an employer or job that does not involve tangible value like job security, flexible hours, and opportunity for growth, praise and recognition, task enjoyment, and friendships (Fogleman & McCorkle, n.d.). Direct compensation is an employee’s base wage,…

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