Encyclopedia of Variable Compensation Components

• Variable Compensation – An Overview

  

  What is variable compensation? What are its benefits and what should be considered?

• The Bonus – A Compact Overview

  

  The bonus as a form of variable compensation explained comprehensively.

• The Classic Commission

  

  Commission – simply and concisely explained.

• The Performance Allowance Explained

  

  An overview of performance allowance criteria and calculation.

• The Premium Explained

  

  Definition and significance of premiums as a compensation component

• Piecework Pay – Pros and Cons

  

  What is piecework pay? What are its advantages and disadvantages, and how is it regulated? Learn how maXzie makes piecework pay fair and transparent!

• Value-Based Compensation

  

  An overview of value-based compensation as a modern strategic compensation system.

• Target Agreement – Purpose, Design, and Benefits

  

  What are target agreements? Why do they matter in compensation systems and performance management?

• Competency-Based Compensation

  

  What is competency-based compensation and how does it differ from other pay models?

• Effort-Based Compensation

  

  Learn about the orientation, components, and best practices for effort-based compensation.

• Performance-Based Compensation

  

  What is performance-based compensation and what are its advantages?

• Result-Based Compensation

  

  What is result-based compensation and how can it benefit companies and employees?

• Strategic Goals Defined

  

  What are strategic business goals and how do they relate to operational objectives?

• Qualitative Goals Defined

  

  What are qualitative goals and how can they be integrated into variable compensation models?

• Quantitative Goals in a Business Context

  

  What are quantitative goals and what significance do they hold for businesses?

• Operational Business Goals

  

  What are operational goals? Why are they important for business success?

• Project Goals Defined and Explained

  

  An overview of project goals, their significance, and the advantages of clear goal setting.

• Team Goals – Definition and Significance

  

  What are team goals and why are they important for business success?

• Action and Activity Goals

  

  What are action goals and how can they contribute to achieving objectives?

• Individual Goals Defined

  

  What are individual goals and how do they contribute to business success?

• Personal Performance Evaluation

  

  Purpose, significance, and execution of personal performance evaluation.

• Incentives in the Workplace

  

  The role of incentives in the modern workplace: Definition, application, and impact

About the Encyclopedia of Compensation Components