HowStuffWorks "How Employee Compensation Works"

[http://www.howstuffworks.com/] SUBSCRIBE Adventure Animals Auto Culture Entertainment Health Home & Garden Lifestyle Money Science Tech Video Shows Quizzes Business Economics Jobs Personal Finance Home / Money / Business / Employee Management How Employee Compensation Works by Lee Ann Obringer Page 1 Introduction to How Employee Compensation Works 2 Setting Up Your Compensation Structure 3 Forms of Compensation 4 Health Insurance Next Up How Hiring Works How Business Accounting Works If you own your own business, your employee compensation and benefits package can be the deciding factor for many potential employees. And it's not just the money. To make your company competitive and attractive to job candidates, you have to offer an exceptional total benefits package. That makes it a very important part of your business planning and management process if you hope to hire (and keep) top employees. So how do you make your benefits package attractive and competitive without financially jeopardizing the success of your business? How do you get the best deals on insurance ? What perks can you offer that won't cost you additional money, but will mean a lot to your employees? Are stock options the way to go? How do you set salaries? What benefit costs are tax deductible ? There are probably 100 more questions popping into your head as you start thinking about how to set up and manage these policies. In this article, we will answer some of those questions and direct you to resources to help you find answers to the ones we don't get to here. Print Cite This! Close Please copy/paste the following text to properly cite this HowStuffWorks article: Obringer, Lee Ann. "How Employee Compensation Works" 01 January 2003. HowStuffWorks.com. 17 August 2014. Citation & Date Feedback Page 1 Introduction to How Employee Compensation Works 2 Setting Up Your Compensation Structure 3 Forms of Compensation 4 Health Insurance 5 Disability and Life Insurance 6 Paid Time Off 7 Other Leave and Benefits 8 Stock Options/Profit Sharing More To Explore Get Math Help Addition Subtraction Multiplication Division Math See all Math articles >> You Might Also Like 10 Networking Tips for People Who Hate Networking Hate the idea of sheepishly handing out business cards to strangers while "selling yourself”? Try these tips for easing the pain. How to Leverage an API for Conferencing APIs are an important part of communication software. Learn more about APIs in this article. Popular Articles Who Said It: Gates or Jobs? 5 Things You Should Do Before Opening a 401(k) How to Start a Radio Station Most Popular Most Watched Most Popular 10 Great Reasons to Change Jobs How do CDs (certificates of deposit) work? 10 Quick Ways to Make Money Eye On the Money: Test Your Debt Knowledge 10 Tips for Staying on Budget Most Watched Stocks and the Stock Market Credit Card Videos How to Make Millions Frugal Living Saving Money Don't Miss Stuff You Should Know: Demystifying Your World Stuff Mom Never Told You: All Things Women and Gender Stuff You Missed in History Class: Fact or Fiction? CHECK OUT OUR PODCASTS HOWSTUFFWORKS NEWSLETTER THE LATEST AND GREATEST SUBSCRIBE HOWSTUFFWORKS Adventure Animals Auto Culture Entertainment Health Home & Garden Lifestyle Money Science Tech MORE STUFF Blogs HSW Tools RSS Maps Podcasts Quizzes Newsletters Video HSW Brazil HSW China STUFF WEBSITES BrainStuff CarStuff Fw:Thinking Stuff Mom Never Told You Stuff of Genius Stuff They Don't Want You to Know Stuff to Blow Your Mind Stuff You Missed in History Class Stuff You Should Know CUSTOMER SERVICE Advertising Contact Us Help CORPORATE About Us Careers @ HSW Privacy Policy Visitor Agreement TAKE US WITH YOU FOLLOW US Copyright © 1998-2014 HowStuffWorks, a division of InfoSpace LLC