Compensation refers to the remuneration that an employee receives in return for his/her services to the organization. Compensation management is an integral part of human resource management and helps in motivating the employees and improving organizational effectiveness. Compensation is a comprehensive term which includes everything an employee receives in return for his work such as wages, salaries, allowances, benefits and [...]
Everything you need to know about the employee compensation. Compensation or Remuneration is a systematic approach to provide monetary value to employees in exchange for work performed by them is called as compensation or remuneration. Compensation may achieve several purposes assisting in recruitment, job performance and job satisfaction. Learn about:- 1. Definitions of Employee Compensation 2. Meaning and Concept of [...]
In this article we will discuss about the various components of employee compensation. Employee compensation is one of the most strategic and important functions of human resource management. It continues to evolve as part of a system of all the combined rewards that employers offer to employees. Components of compensation means components of remuneration to employees. An average employees in [...]