compensation A rigorous review of compensation and all(prenominal) its components Compensation is what is paid to an employee, whether in the form of wages, salary or incentives by the employer for a specific amount of time, skill and exertion made available by the employee in fulfilling specific transmittal line requirements (Biesheuval, 1984). Compensation is distinguished in organisations as it conveys teaching to an employee virtually their relative importance to the organisation and provides a home to localize how a lot recognition they are receiving for their parting (Harley and Stephenson, 1992). Compensation shows employees how much they are appreciated and worth.
The most important differentiating element among tunes is the effort involved in performing a job (Biesheuval, 1985). Objectives of pay systems (Harzing and Van Ruysseveld, 1999): Objective: How to achieve it. To appeal employees: note salary To keep qualified employees: Bonus or incentive to stay e.g. shares To sti...If you want to get a extensive essay, show it on our website:
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