Question

The College of Southern Nevada faculty pay scale is based on teaching experience and degrees earned. In addition to pay, it has a benefits package that includes medical insurance, dental insurance, life insurance, and retirement benefits.

The policies and strategies used to create the employment compensation package comprise a __________.

Answer 1

compensation system.

Step-by-step explanation:

A compensation system corresponds to the sum of all benefits that an employee will receive in exchange for his work. Compensation corresponds to monetary and non-monetary benefits, such as health insurance, dental insurance and life insurance.

There are three general categories that divide remuneration. They are:

1. Direct financial compensation,
2. Indirect financial compensation and
3. non-financial compensation.