Tag Archives | Compensation

Employee Compensation

Compensation is an important activity of Human Resource Management (HRM). It plays a significant role for the employee as well as the employer. For the employee, compensation is the main source of livelihood and determines his/her standard of living, status in the society, motivation, loyalty, and pro­ductivity. For the employer, compensation is an instrument of procuring (attracting), maintaining, devel­oping, promoting, [...]

By |2020-05-19T07:23:10+05:30May 19, 2020|Employee Compensation|Comments Off on Employee Compensation

Objectives of Compensation Management

The basic objective of compensation management can be briefly termed as meeting the needs of both employees and organization. Since both these needs emerge from different sources, often, there is a conflict between the two. This conflict can be understood by agency theory which explains relationship between employers and employees. The theory suggests that employers and employees are two main [...]

By |2020-02-03T07:59:39+05:30February 3, 2020|Human Resource Management|Comments Off on Objectives of Compensation Management

Compensation Management

Compensation Management refers to the establishment and implementation of sound policies, programmes and practices of employee compensation. It is essentially the application of a systematic and scientific approach for compensating the employees for their work in a fair, equitable and logical manner. Compensation Management is concerned with the compensation to employees for their work and contribution for attaining organisational goals. [...]

By |2019-12-10T10:19:41+05:30December 10, 2019|Human Resource Management|Comments Off on Compensation Management
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