Literature Review On Compensation And Benefits Pdf

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Compensation refers to a wide range of financial and nonfinancial rewards to employees for their services rendered to the organization. It is paid in the form of wages, salaries and employee benefits such as paid vacations, insurance maternity leave, free travel facility, retirement benefits, etc. The system of compensation should be so designed that it achieves the following objectives. Download Functional Analysis Book — M.

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LITERATURE REVIEW ON EMPLOYEE COMPENSATION AND BENEFITS

Not a MyNAP member yet? Register for a free account to start saving and receiving special member only perks. Below is the uncorrected machine-read text of this chapter, intended to provide our own search engines and external engines with highly rich, chapter-representative searchable text of each book. Examples of indus- tries dealing with these problems include health care Bu- chan and IT professions DeMers TRB began to publish research on this topic in Special Report and more recently, in , published a synthesis, In- novative Strategies for Upgrading Personnel in State Transportation Departments Poister et al.

Most companies want to hire the most qualified employees and keep those employees loyal and productive. Because each employee is unique, larger corporations offer a wide range of mix-and-match options to suit individual needs and preferences. As a manager, you may have the option of offering your team members specific incentives based on their type of work and particular areas of interest and need. Compensation is just another word for wages. Managers work with human resources to set and raise wages based on a number of factors:.

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Literature Review On Employee Compensation And Benefits

Compensation refers to a wide range of financial and nonfinancial rewards to employees for their services rendered to the organization. It is paid in the form of wages, salaries and employee benefits such as paid vacations, insurance maternity leave, free travel facility, retirement benefits, etc. The system of compensation should be so designed that it achieves the following objectives.

A Literature Review on Compensation Management Practices

The compensation and benefits processes introduce the transparency into Human Resources and rewarding employees for the achieved performance. The compensation and benefits provides the managers with the compensation toolsto build a difference among employees as the high performance corporate culture can be built in the organization. The compensation and benefits department monitors the external job market and optimizes the personnel expenses budget of the organization.

Literature Review On Employee Compensation And Benefits

The purpose of this chapter is to conduct a review of the literature on employee compensation, which forms the foundation on which this study is based, by facilitating an understanding of previous research and insight into current trends in the field of employee compensation. This chapter describes how literature on Awareness of employee compensation and its effect on their motivation. Compensation philosophy is discussed, followed by a description of the motivational effect in this study.

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