Response 1: Compensation
The concept of compensation refers to financial returns and benefits given to employees in exchange for their labor (Odunlade, 2012). There are three forms of compensations – direct, indirect, and non-financial compensation (Hayes & Ninemeier, 2008). Direct compensation is the cash compensation given by employers to employees for the work they rendered (Osibanjo et al., 2014). On the other hand, indirect compensation is a form of benefit that possesses financial value, but not in the form of direct cash payment (Osibanjo et al., 2014). Non-financial compensation has no equivalent monetary value, but employees receive psychological and emotional satisfaction. In consideration of Continue reading...