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Types of Compensation: Everything HR Needs to Know

HR Lineup

Variable Pay: Performance-Based Incentives Variable pay, also known as performance-based pay, includes bonuses, commissions, and profit-sharing plans. Professional Development Opportunities: Training programs, workshops, and opportunities for skill development contribute to the professional growth of employees.

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14 Employee Engagement Activities for Blue Collar Workers to Motivate and Empower Them

Empuls

Employee-led training and skill development Empowering blue collar workers to take ownership of their own skill development and knowledge sharing is a highly engaging activity. Companies can encourage employees to lead training sessions or workshops in areas where they excel, creating opportunities for peer-to-peer learning.

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57 Stellar Ways to Reward Employees for Good Performance & Acknowledging Employee Dedication

Empuls

Some companies share a portion of their profits with employees as a way to reward them for their contributions to the company's success. This can be distributed through bonuses, profit-sharing plans, or stock options.

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10 Essential Components of a Competitive Employee Compensation Package

Bayzat

Retirement Plans Providing retirement savings options helps employees plan for their future and shows that your company values long-term financial security. Paid Time Off Generous paid time off (PTO) policies are increasingly important to employees seeking work-life balance.