What is compensation?

Please review the following:

https://www.hr-guide.com/data/G400.htm

http://compensationcompass.weebly.com/objectives-of-compensation.html

http://compensationcompass.weebly.com/videos.html

The Four Intrinsic Rewards that Drive Employee Engagement

INITIAL POST: (Minimum 300 words) – Due Week 1: Sunday @ 11:59 pm EST

After reviewing all of the articles and videos, please respond to the following:

What is compensation?
What is the difference between an intrinsic reward and an extrinsic reward?
In your opinion, which is more important to an employee – an intrinsic reward or extrinsic reward? Why?
The initial post should be a minimum of 300 words and is due on Sunday at 11:59 pm EST. Please be sure to utilize the reading materials (and any outside sources) to support your position(s) and include proper APA citation (in-text and reference list) in your post.

SAMPLE SOLUTION

Management Discussion One

What is compensation? Compensation refers to a systematic approach or measure of providing the monetary value to employees in exchange for the work done (HR-Guide LLC, 2015).  Offering employees compensation is aimed to facilitate key purposes such as enhancing job satisfaction, job performance, and helps in the recruitment of the suitable candidate (HR-Guide LLC, 2015).  Management uses compensation as a tool for various purpose, besides enhancing the existence of the company (Compensation Compass, 2021). For instance, compensation can be used for the following purposes; modifying the practice of the unions through negotiations, encouraging employee’s loyalty to the company, to facilitate internal and external equity, to enhance morale and satisfaction among the employees and to recruit and retain…