Is compensation a salary? What is compensation management and its function? Why is compensation management important? Compensation is the total cash and non-cash payments that you give to an employee in exchange for the work they do for your business. It is typically one of the biggest expenses for businesses with employees. An effective compensation strategy motivates current employees and is used as a tool to attract new ones. The objectives of compensation management are to attract, engage, and retain employees through competitive compensation plans. Do you think that the employees will perform better if they are not provided with adequate compensation? Let’s get to know further about the concepts of compensation management with the help of the presentation, shall we? Please refer.

Meenakshi

11 resources

0

0

0

Like