Commission

A type of direct compensation. Commissions are a pay type based on volume of production (as found in the fishing industry) or sales based like in real estae sales or auto sales.

Direct Form of Compensation – Four Different Types

Direct Forms of Compensation

There are four different types of direct compensation for employees.  These include: 1) Hourly Compensation, 2) Salaries, 3) Commissions and 4) Bonuses.  There is some misinformation related to direct compensation as this subject relates to owners of a small business.

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Real Estate Agent – Drawbacks and Delusions

Real Estate Agent

The highest prized benefit of owning your own business is independence.  You rely on your skills and have to report to no one but yourself.  This is the allure of becoming a real estate agent.  Imagine, making a lot of money and working when you want to work.  Very appealing to just about anyone, wouldn’t you say?  Well, it is all hogwash! 

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Hair Stylist Compensation Model

Salon Compensation Model

One of the most fascinating business models is the hair salon industry.  Many salons are poorly managed and rarely generate adequate profits.  To make matters worse, the stylists are like professional sports players.  One week they are playing for this team, and next week they are on a new team.  In effect, they switch salons.

An Introduction to the Employee Manual (Handbook)

Employee Manual

The employee manual is a guidebook and a tool to explain the policies and procedures for the small business operation.  It addresses the basic expectations for performance and conduct of the employee.  The manual is only a guide and the employee needs to understand its importance in the overall corporate policies and procedures hierarchy.

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The Different Forms of Compensation

The Different Forms of Compensation

There are two forms of compensation provided to employees; direct and indirect.  Direct forms of compensation have a multitude of types or methods, from salaries to bonuses.  Indirect compensation is primarily the various types of benefits and long term incentives.

This content is for Bronze, Silver, One-Time and Contractor's Diagnostic members only.
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