Professional Documents
Culture Documents
All forms of financial returns and tangible services and benefits employees received as part of an employment relationship
The components of compensation; The value of the compensation; The administration of the compensation.
COMPONENTS OF COMPENSATION
Incentives
Benefits
To
attract and retain talented individuals To motivate employees To shape up and consolidate organizational culture To control compensation costs To avoid penalties
EQUITY IN COMPENSATION
Job Evaluation
Internal
Consultation
Employee
EQUITY
Organizational
Appraisal
External
Pay Survey