COMPENSATION MANAGEMENT
- ISBN-10
- 1304730247
- ISBN-13
- 9781304730244
- Series
- Compensation Management
- Category
- Art
- Pages
- 171
- Language
- English
- Published
- 2021-08-26
- Publisher
- Ashok Yakkaldevi
- Authors
- Dr. Pradip Kumar Das, Dr. Madan Chhetri & Ms. Roshni Tamang
Description
Introduction The question of what is compensation is important to both the employer and employee and is important to be answered in their relationship. Compensation is the total cash and non-cash payment that is exchanged between employee and organization for the work done by the employee for the organization. Compensation is more than an employee’s regular paid wages. It mainly include base pay, sales commission, overtime wages, bonus pay, recognition or merit pay, benefits (insurances, standard, vacation policy, retirement, stock option, other non- cash benefits). The compensation helps in motivating employees and ensuring that they are committed in achieving the company goals. The level of compensation offered is dependent on a number of factors, including salaries paid by similar companies for similar roles, the employee’s skill set and productivity and projected financial strength of the company. There are numerous ways to decide the appropriate compensation of an employee.
Get the book
Other editions
-
- 2009-12
- 328 pages
- Paperback
- Global India Publications
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