what is base pay and variable pay The amount of pay is variable and depends on the employee s and the organisation s performance The organisation pays the variable compensation in addition to the base pay Variable payment is subject to pre determined conditions and is usually linked to productivity
Variable pay is a type of Remuneration that is based on an employee s performance When an employee meets or exceeds their monthly target they are eligible to receive variable pay which can take the form of incentives bonuses or commissions added to their basic salary Variable pay is compensation that is awarded to an employee that has gone above and beyond their regular job requirements to contribute to the organization s success The purpose of variable pay is to motivate behavior change
what is base pay and variable pay
what is base pay and variable pay
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Variable pay is a win win for businesses and employees from a business perspective variable pay incentivizes employees to work hard perform and hit goals and from an employee perspective it gives them a clear path to take home extra cash But what exactly is variable pay How does it benefit your small business and employees Variable compensation is pay that gets added to an employee s base salary It s variable because the amount can change between pay periods organizations with a variable compensation plan typically pay their employees at least 8
Variable pay refers to a more complex payroll formula than salary or hourly pay such as the number of sales per month a percent of business earned or a fixed amount per client However many businesses choose to provide a base pay rate hourly or salary so that employees receive steady compensation Variable pay is any number of bonuses incentives commissions and other cash compensation that is contingent on employee performance
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Variable compensation also known as variable pay is supplementary compensation typically tied to performance goals measured by specific metrics These goals can be individual project based team based or companywide Variable pay is a compensation structure designed to reinforce favorable work performance from employees and exhibit how the company values its workforce There are different ways a business can implement the said program to acknowledge the effort of its workers and boost job satisfaction
Base pay is the initial salary paid to an employee not including any benefits bonuses or raises It is the rate of compensation an employee receives in exchange for Example 1 Base Salary Regular pay amount per payment period x of payment periods in a year Base salary 2 000 bi weekly salary x 26 pay periods 52 000 base salary annually Example 2 Base Pay of hours worked in a week x of weeks in a year x hourly wage Base pay
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what is base pay and variable pay - Variable compensation is pay that gets added to an employee s base salary It s variable because the amount can change between pay periods organizations with a variable compensation plan typically pay their employees at least 8