dear friends. i m a student and i have assigned the task of developing a search paper on the topic: Importance of compensation management in today’s world . please reply
From Pakistan
From Pakistan
Labour therefore expects to have fair share in the business/production process. Therefore a fair compensation system is a must for every business organization. The fair compensation system will help in the following:
* An ideal compensation system will have positive impact on the efficiency and results produced by employees. It will encourage the employees to perform better and achieve the standards fixed.
* It will enhance the process of job evaluation. It will also help in setting up an ideal job evaluation and the set standards would be more realistic and achievable.
* Such a system should be well defined and uniform. It will be apply to all the levels of the organization as a general system.
* The system should be simple and flexible so that every employee would be able to compute his own compensation receivable.
* It should be easy to implement, should not result in exploitation of workers.
* It will raise the morale, efficiency and cooperation among the workers. It, being just and fair would provide satisfaction to the workers.
From India, Visakhapatnam
* An ideal compensation system will have positive impact on the efficiency and results produced by employees. It will encourage the employees to perform better and achieve the standards fixed.
* It will enhance the process of job evaluation. It will also help in setting up an ideal job evaluation and the set standards would be more realistic and achievable.
* Such a system should be well defined and uniform. It will be apply to all the levels of the organization as a general system.
* The system should be simple and flexible so that every employee would be able to compute his own compensation receivable.
* It should be easy to implement, should not result in exploitation of workers.
* It will raise the morale, efficiency and cooperation among the workers. It, being just and fair would provide satisfaction to the workers.
From India, Visakhapatnam
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Basics of Compensation Management.pdf
Compensation management.ppt