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 [...]
Everything you need to know about the types of fringe benefits provided to employees. Fringe benefits are the programs conducted for the benefit of employees. These are offered by the employers and are not included in I their wages or salaries. Fringe benefits can make up approximately 30 % of the total remuneration of employees. These benefits are offered to [...]