A _____ can include pay, benefits, or other compensation for which an employee is entitled when leaving the organization.
A) severance package
B) retention plan
C) improvement plan
D) straight commission plan
E) compensation package

Question

Quizplus · Accepted Answer

A severance package is typically offered to employees who are terminated, laid off, or decide to leave the organization voluntarily. It includes compensation such as a continuation of salary, health benefits, or other fringe benefits, or a lump sum payment. A retention plan is designed to encourage employees to stay with the organization, and may include incentives such as bonuses or stock options. An improvement plan outlines steps an employee needs to take to improve their performance, and may not include any form of compensation. A straight commission plan is a type of compensation where an employee is paid based on their sales performance. A compensation package refers to the total amount of pay and benefits an employee receives, which may include a severance package, but also includes other forms of compensation.

A _____ Can Include Pay, Benefits, or Other Compensation for Which