definition of compensation management - compensation management - manu melwin joy
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Definition of compensation managementCompensation Management
Prepared By
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Manu Melwin JoyAssistant Professor
Ilahia School of Management Studies
Kerala, India.Phone – 9744551114
Mail – [email protected]
Definition of compensation management
• “Compensation management is
the process of determining cost
effective pay structure, designed
to attract and retain, provide an
incentive to work hard, and
structured to ensure that pay
levels are perceived as fair.”
– Stephen P Robbins.
Definition of compensation management
• “Compensation systems are
the financial reward
structures organizations use
to compensate individuals
for the work they perform
for the organizations.”
– Linda K Stroh.
Definition of compensation management
• “Compensation
management refers to
payment systems which
determine employee
wages or salary, direct or
indirect rewards”.
– I. Kessler.
Definition of compensation management
• “ Compensation management is a
system of compensating individuals
for the work they perform in such a
way that the organization is able to
attract, retain and motivate them
to perform well keeping in view
organizational and market factors.
“
– Deb
