Straight salary | Salary plus commission | Hourly | Hourly plus commission | Commission-only | Territory volume | Profit margin/revenue-based | Residual commission | Contractor commission | Hourly vs Salary
When it comes to employee compensation, there isn’t a one-size-fits-all solution. The right plan will not only motivate your workforce, but it will also align with your business goals and profitability.
So what is compensation? Is it just monetary? Are benefits included in the definition?
In my experience, both in the corporate (salary) and retail (hourly) space, an employee compensation plan encompasses salary or hourly pay and any benefits added to the package.