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Simply stated, it is the compensation of employees in ways that enhance motivation and growth, while at the same time aligning their efforts with the objectives, philosophies, and culture of the organization (Bohlander &Snell, Compensation includes all forms of pay and rewards received by employees for the performance of their job · employees are usually aware of the figure that they should expect depending on the industry that they are in. employees believe that they are being compensated highly in relation to their qualifications and productivity, then they are bound to work harder to earn even higher salaries and get more benefits such as paid leave, health insurance for From the organisation’s perspective, effective management of employee compensation is very important. According to Milkovich and Gerhart (), the cost of compensation is accounting for 10 to 50 per cent of the total operating cost. In some labour-intensive organisation, the figure of the cost is more than 60 percent
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Essays, First Series [] Compensation The wings of Time are black and white, Pied with morning and with night. Mountain tall and ocean deep Trembling balance duly keep. In changing moon, in tidal wave, Glows the feud of Want and Have. Gauge of more and less through space Electric star and pencil plays. The lonely Earth amid the balls Compensation Management The amount of compensation an employee receives for his or her services to a firm is a very sensitive issue because it is a reflection of what the employee is worth to the firm. Compensation even is one of the major motivators for employees; and it is motivation that leads to increased productivity · In general, compensation can be classified into two; economic and non-economic compensation. Economic compensation comprises the salary, benefits as well perks that have monetary value. On the other hand, non-economic compensation are those related to the personal satisfaction of the individual toward his work such as working relationships,
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Essays, First Series [] Compensation The wings of Time are black and white, Pied with morning and with night. Mountain tall and ocean deep Trembling balance duly keep. In changing moon, in tidal wave, Glows the feud of Want and Have. Gauge of more and less through space Electric star and pencil plays. The lonely Earth amid the balls Simply stated, it is the compensation of employees in ways that enhance motivation and growth, while at the same time aligning their efforts with the objectives, philosophies, and culture of the organization (Bohlander &Snell, Compensation includes all forms of pay and rewards received by employees for the performance of their job · Compensation, of course, is the salary or pay an employee receives from an organization and may fall into four categories: 1) Guaranteed Pay (fixed), 2) Variable Pay (Performance or results based); 3) Benefits (Medical, etc.), and 4) Equity-Based Compensation (Stock or organizational programs)
· employees are usually aware of the figure that they should expect depending on the industry that they are in. employees believe that they are being compensated highly in relation to their qualifications and productivity, then they are bound to work harder to earn even higher salaries and get more benefits such as paid leave, health insurance for Essays, First Series [] Compensation The wings of Time are black and white, Pied with morning and with night. Mountain tall and ocean deep Trembling balance duly keep. In changing moon, in tidal wave, Glows the feud of Want and Have. Gauge of more and less through space Electric star and pencil plays. The lonely Earth amid the balls Compensation Management The amount of compensation an employee receives for his or her services to a firm is a very sensitive issue because it is a reflection of what the employee is worth to the firm. Compensation even is one of the major motivators for employees; and it is motivation that leads to increased productivity
Essays, First Series [] Compensation The wings of Time are black and white, Pied with morning and with night. Mountain tall and ocean deep Trembling balance duly keep. In changing moon, in tidal wave, Glows the feud of Want and Have. Gauge of more and less through space Electric star and pencil plays. The lonely Earth amid the balls · Compensation, of course, is the salary or pay an employee receives from an organization and may fall into four categories: 1) Guaranteed Pay (fixed), 2) Variable Pay (Performance or results based); 3) Benefits (Medical, etc.), and 4) Equity-Based Compensation (Stock or organizational programs) From the organisation’s perspective, effective management of employee compensation is very important. According to Milkovich and Gerhart (), the cost of compensation is accounting for 10 to 50 per cent of the total operating cost. In some labour-intensive organisation, the figure of the cost is more than 60 percent
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