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Employee Compensation and Benefits
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Prepared for:
[EMPLOYEE NAME]

Prepared by:
[COMPANY]

Employee Compensation & Benefits

This Employee Compensation and Benefits Template is prepared for [Employee Name].

About Us

We, at [Company Name], believe in the importance of sales and profits and adopt a holistic approach for both our employees and clientele. We have been a top name in the industry since [Year of Establishment].

Compensation Break-up

1. Base Pay

  1. Wages
  1. Salary

2. Variables Pay

  1. Incentives
  1. Bonus
  1. [Variables Pay]

3. Benefits

  1. Medical Insurance
  1. Life Insurance
  1. Paid Holidays
  1. Educational financing
  1. Retirement
  1. Work-life support
  1. [Benefits]

4. Performance Management

  1. Appraisals
  1. Goals
  1. Training
  1. Human Resource Development
  1. Career planning and succession planning
  1. [Performance Management]

Commission Plans

1. Territory Volume

Territory volume is evaluated by the calculation of territory volume at the end of a compensation period; suitable for team-based corporate cultures.

2. Commission Only

The people in sales are paid for the sales, as and when they yield results. There is no surety of income.

3. Salary and Commission

The people in sales receive a lower base pay along with commission pay that will make up for the majority of the total compensation. This is the most widely used commission plan.

4. Straight Salary

The people in sales are paid their entire salary like the other employees.

5. Profit Margin

The people in sales are paid based on the performance and profit the corporate is making. This plan is a less liquid plan than the others.

Pay-For-Performance Plan

It works for most salary-based companies, lead generation companies with all sales with equal profit margins, companies where the sales and profit per range can span a wide range, or hourly companies like cafes, restaurants, retail stores, etc.

[Benefits]

Competitors Pay Plan

This table describes the job profiles adopted by our competitors.

[Job 1]
[Job 2]
[Job 3]
[Competitor 1]



[Competitor 2]



[Competitor 3]



Performance Evaluation Parameters

Evaluation Item

Service Rating

Service Rating

Service Rating

Quality of Work



Dependability and Responsibilities



Management and Control



Productivity



[Evaluation Items]



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Acceptance and Signature

Your acceptance to be onbaord shall be demonstrated by signing below:
Signature
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Date
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Name
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Signature
Assign signer 2
Name
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Date
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DISCLAIMER: The content provided herein is for general information purposes only, and shall not constitute legal advice. RevvSales and its partners make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information mentioned hereunder. The use or reliance of any information contained herein is solely at your own risk. You are advised to obtain independent legal advice before taking or refraining from any action on the basis of the content provided here.

Free Employee Compensation & Benefits Templates

Help your employees get to the most basic compensation and benefits, through this template.