Wages and Salary Hourly weekly monthly cash payments

Wages and Salary • Hourly, weekly, monthly cash payments for time spent working Different Types of Employee Compensation Health Insurance • It is very common for employees to receive health care from their employers. Providing health insurance for employees is a must for companies wishing to attract the top talent in the field Retirement Plans • 401 K (often includes matching funds from the company)

Life Insurance • Often paid for completely by the company Employee Compensation Stocks and Profit Sharing • Gives employees a sense of ownership of the company • Stock options are a form of deferred compensation • Profit sharing motivates employees to work harder because the better the company does, the bigger their paycheck

Bonuses and Commission • Cash motivation to work harder and exceed expectations. Commission is paid as a percentage of sales Paid Time Off (PTO) Employee Compensation • Paid holidays, vacation, sick leave, and personal leave Telecommuting and Flex Time • Allows workers to work from home (or somewhere other than the “office”) • Flex time allows workers to work at times more convenient for them Training and Development • Companies invest in the future or their employees by sending them to conferences, staff development workshops, etc. often in interesting places