• 1. What type of compensation will each classification of employee receive for their work? Will you give them a wage, salary, or incentive pay (commissions, piecework, or standard hour)? 
• 2. Will you give incentives (recognition and other nonmonetary incentives, merit pay, bonuses, profit sharing, Scanlon plan, Rucker plan, ESOPs, stock option and/or stock purchase plans)? 
• 3. As the only executive, what will your compensation package include? 

Answer rating: 100% (QA)

1 Compensation is the dues paid to employees by employers for services provided The compensation provides monetary value in exchange for work performed Types of compensation for sales staff will be co... View the full answer