Human Resource Management – Compensation And Rewards

Compensation And Rewards

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Planning pay and benefits involves many decisions, often complex and based on knowledge of a multitude of legal requirements. An important decision is how much to offer in salary or wages, as opposed to bonuses, commissions and other performance related pay. Other decisions involve which benefits to offer, from retirement plans to various kinds of insurance to other more intangible rewards such as opportunities for learning and personal growth. All such decisions have implications for the organizations bottom line, as well as for employee motivation.

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