Employment costs refer to the total expenditure incurred by an organization in employing personnel. This includes salaries, wages, bonuses, incentive payments, employer's National Insurance contributions, and employer's pension scheme contributions.
An executive is an employee in a top-level management position with major decision-making authority in an organization. Executives are often given incentive pay, such as bonuses, in the private sector.
Kudos refers to the recognition given by an entity for achievements. This acknowledgement can manifest in various forms, including bonuses, medals, or trophies.
Pay for Performance is a salary scheme where employees accept a lower base pay in exchange for bonuses based on meeting production or other organizational goals.
Supplemental wages include bonuses, commissions, overtime pay, and certain [SICK PAY]. An employer can withhold income tax at a flat 25% rate or use the same method as for regular wages.
