Variable Pay Definition. Employees usually receive this type of. When employees hit their goals variable pay is provided as a type of bonus incentive pay or commission.
What Are The Different Types Of Compensation Payscale from www.payscale.com
As the name suggests it is for those employees who work beyond their job description and requirements. Variable pay is compensation that is contingent on discretion performance or results. Jun 30 2017 Variable pay is the umbrella.
Variable Pay Program means a formal compensation program which provides for remuneration amounts that vary based on achievement levels of specific performance goals including commissions incentives bonuses and other payments based on an Employees performance excluding the First of America Bank Corporation Annual Incentive Compensation Plan the First of.
Variable pay is the percentage component of your fixed salary that you will not get monthly but quarterly or yearly. Variable pay also known as performance pay is used to recognise and reward employee contribution above and beyond their normal job requirements towards company productivity profitability quality and the like. Variable pay programs are an increasingly popular mode of compensation in todays business world. Base salary on the other hand is fixed and paid out regardless of employees meeting their goals.
