0 Bewertungen0% fanden dieses Dokument nützlich (0 Abstimmungen)
12 Ansichten7 Seiten
Compensation refers to all forms of financial returns and tangible services and benefits employees receive as part of an employment relationship. Ensuring that jobs in our company are paid the same as the same jobs (in terms of KSA)in other companies. Data relating to pay levels can be collected through W and S Survey.
Compensation refers to all forms of financial returns and tangible services and benefits employees receive as part of an employment relationship. Ensuring that jobs in our company are paid the same as the same jobs (in terms of KSA)in other companies. Data relating to pay levels can be collected through W and S Survey.
Copyright:
Attribution Non-Commercial (BY-NC)
Verfügbare Formate
Als PDF, TXT herunterladen oder online auf Scribd lesen
Compensation refers to all forms of financial returns and tangible services and benefits employees receive as part of an employment relationship. Ensuring that jobs in our company are paid the same as the same jobs (in terms of KSA)in other companies. Data relating to pay levels can be collected through W and S Survey.
Copyright:
Attribution Non-Commercial (BY-NC)
Verfügbare Formate
Als PDF, TXT herunterladen oder online auf Scribd lesen
forms of financial returns and tangible services and benefits employees receive as part of an employment relationship. To reward employees’ past performance To remain competitive in the labor market To maintain salary equity among employees To mesh employees’ future performance with organizational goals To control the compensation budget To attract new employees To reduce unnecessary turnover
1. To elicit desired behavior from employee.
Motivate people to join the organization Motivate people to stay with the organization Motivate people to perform at high levels Wages & Salaries in the organisation should be in line with wages and salaries for comparable jobs in other organisation.
Ensuring that jobs in our company are paid the same as
the same jobs (in terms of KSA)in other companies. Data relating to pay levels can be collected through W & S Survey. A salary survey reveals what other organisations pay for specific jobs and the basis for payment.
Once the going rate prevailing in the region is known
the co. can decide a higher or lower level for its employees without distrubing internal equity. Ensuring that compensation for jobs that are similar in terms of KSA within the organization should be the same. It implies a proper relationship between wages paid for different jobs within the co. Pay differentials should be related directly to differentials between job requirements.
Fair pay differentials between jobs can be established
with the help of job evaluation.Job evaluation help to determine relative worth of a job.It is useful in eliminating widely varying wages for jobs of equal difficulty.It also minimises wage differentials on the basis of sex, religion, caste etc.