A Brief Note On Executive Compensation And Non Monetary...

The term compensation refers to all forms of financial returns and tangible benefits that employees receive in exchange for their time, talents, efforts, performance, and results (Bernardin, 2013). Executive compensation is defined as the financial payments and non-monetary benefits provided to high level management in exchange for their work on behalf of an organization. The types of employees that are typically paid with executive compensation packages include corporate presidents, chief executive officers, chief financial officers, vice presidents, managing directors, and other senior executives (Business Dictionary.com, 2016). Executive compensation is an aspect of business that every major corporation, company, and organization has to manage. Although every major organization or company utilizes some form of executive compensation, it may differ greatly from one company to the next. Proper management of executive compensation is vital to the success and progress of companies, c orporations and organizations because of the impact that disbursement of such high pay and benefits have on the financial status of any business and its shareholders. The structure of compensation is important because it can help to create an outline on how managers can effectively run companies and create value for shareholders. Pay packages and other benefits should give high-level executives incentives to run companies correctly and efficiently. It should also make executives think in the longShow MoreRelatedResearch and Practice in Human Resource Management8935 Words   |  36 Pagesbetween employees and their organisations. Weak employee organisational linkages are often displayed as the phenomenon of turnover. Indeed, people are likely to job hop to obtain better monetary rewards and career development opportunities. 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