This week, we will be reading and talking about effective strategies for managing employee total compensation. Total compensation is a term used to describe the combination of all forms of compensation (cash, benefit, and other in-kind) that an employer provides to an employee in exchange for the performance of their work for the organization. Organization recognize that today's diverse workforce calls for a variety of compensation and benefit strategies in order to remain competitive with and to retain their needed workforce talent. Also noteworthy are the growing number of regulations which hold employers accountable to ensuring fairness and equity in their total compensation programs. These regulations, alongside employee expectations for justice and equity, encourage employers to maintain fair and transparent pay practices. Material covered this week will include basic compensation, incentive (pay for performance) compensation, and employer-sponsored benefits.

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