Asked by Tanner Lloyd on Jun 14, 2024
Verified
Base compensation can assist the organization by eliminating the need for fringe benefits programs.
Base Compensation
The initial rate of pay provided to an employee, not including additional benefits, bonuses, or incentives.
Fringe Benefits Programs
Packages offered by employers outside of regular salaries, including health insurance, retirement plans, and other perks.
Organization
A group of individuals working together in a structured and coordinated fashion to achieve a set of goals.
- Apprehend the influence that incentive tactics, like bonuses and merit pay, have on the motivation and fidelity of individuals.
Verified Answer
VJ
Victoria JuvinallJun 17, 2024
Final Answer :
False
Explanation :
Base compensation is only one component of total compensation. Fringe benefits, such as health insurance, retirement plans, and paid time off, are still necessary and valued by employees. Eliminating fringe benefit programs may make it difficult for the organization to attract and retain talent.
Learning Objectives
- Apprehend the influence that incentive tactics, like bonuses and merit pay, have on the motivation and fidelity of individuals.