Purchase Solution

Distinguish between Monetary and In-Kind Payments

Not what you're looking for?

Ask Custom Question

Distinguish between monetary and in-kind payments. Describe the relationship between compensation and non-compensation subsystems of the reward system. Describe whether monetary and in-kind payments are sources of motivation? If they are not, defend your answer.

Purchase this Solution
Solution Summary

This solution discusses the difference between monetary and in-kind payments, the relationship between compensation and non-compensation subsystems of the reward system, and sources of motivation. The response addresses the queries posted in 825 words with three APA references.

Solution Preview

The response addresses the queries posted in 825 words with references.

//Before writing about the differences between monetary and in-kind payments, it is essential to have knowledge about their definition. One should know about the main aspects of monetary and in-kind payments in order to bring out the central differences between these two terms//

Introduction

Monetary payments are wage benefits provided to the employees. Monetary payments mainly include salary and augmented pay. Augmented pay involves overtime, one-time stuff and extra pay. In-kind payments are fringe benefits provided by the employers to their employees as a part of compensation strategy.

Difference between monetary and in-kind payments

Monetary and in-kind payments are the part of compensation, but there are some significant differences between these two terms. These are as follow:

Wage structure: Wage structure of both these payments is different. Monetary payments are wage payments. On the other hand, in-kind payments are non-wage payments (Bratton & Gold, 2001).

Payment type: Payment type of these components of compensation is also different. Monetary payments are cash incentives, while in-kind payments are non-cash payments. Monetary payments are in the form of paper money, coins or checks. Monetary payments have value in use and they abridge swap transactions (Marino & Zabojnik, 2003). On the other hand, in-kind payments are services or ...

Solution provided by:
Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
Recent Feedback
  • "Thank You so much! "
  • "Always provide great help, I highly recommend Mr. Sharma over others, thanks again. "
  • "great job. I will need another help from you. "
  • "first class!"
  • "Thank you for your great notes. Will you be willing to help me with one more assignment? "
Purchase this Solution
Free BrainMass Quizzes
Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

View More Free Quizzes
Related BrainMass Solutions

  • Compensation and Benefits: monetary and in-kind payments

    222502 Compensation and Benefits: monetary and in-kind payments Distinguish between monetary and in-kind payments. Describe the relationship between compensation and noncompensation subsystems of the reward system.

  • Compensation Management

    Distinguish between monetary and in-kind payments. Describe the relationship between compensation and noncompensation subsystems of the reward system. Describe whether monetary and in-kind payments are sources of motivation?

  • balance of payments deficit correction

    The monetary approach looks at the balance of payments as the change in the monetary base less the change in the domestic component: CM = change in the quantity of money demanded CC = domestic credit creation BOP = CM-CC Putting just monetary

  • Connection with balance of payments framework and exchange rates

    Propose the similarities and differences of current account and financial account in the balance of payments structure. In doing so, apply your analysis to explain the trade balance between U.S, and China. 3.

  • Capital Lease versus Operating Lease

    291040 Distinguish between the accounting treatment of a capital lease versus an operating lease for a lessee both at the inception of the lease Distinguish between the accounting treatment of a capital lease versus an operating lease for a lessee both

  • Ten Questions: Electricity and Ray Optics.

    Compare the characteristics and functions of the rods and the cones of the eye. 9. Distinguish between a virtual image and a real image. 10. What kind of lens can produce a real image? A virtual image? Please see the attached.

  • Corporate Divisions: Distinguish between spin-offs, split-up

    264845 Corporate Divisions: Distinguish between spin-offs, split-up 1. Distinguish between spin-offs, split-ups, and split-offs.

  • U.S. banking overseas

    Further, when there are investments by foreign investors in US stocks there is financial interdependence between that country and the US.

  • GDP, Aggregate supply/demand

    Balance of Payments Okay, this involves a few jargons like balance of payments, export, import, current accounts, deficits, and surpluses. I'll just put them in an example.

View More Related Solutions