Valmarie Anne Concepcion Southern New Hampshire University OL 211 Human Resources April 8, 2018
Compensation has three main components (Snell et.al. 2013 Ch.9-1). The components aredirect compensations which are directly correlated to the employee wages and salary.
Next is indirect compensation is the benefits that are supplied by the employers. Finally, is nonfinancial compensation which includes employee recognition programs, rewarding jobs, organizational support, work environment, and flexible work hours.
Compensation is one of the leading concerns when it comes to applying for a job.Maersk put out a pay for performance system in place.
Maersk put in the new reward system as the average number of turnover began to rise, to motive the employees to stay with thecompany longer.
Employees are divided in different categories based on their performance,
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