1. Compensation Management

2. Contents Introduction Objectives Components Importance
Factor affecting
conclusion

3. Introduction
Compensation is a systematic approach to providing monetary & non monetary value to employees in exchange for work performed.
Compensation may be defined as money received in performance of work and many kinds of benefits that an organization provides to their employees.

4. Objectives To recruit & retain qualified employees.
To increase or maintain morale.
To determine basic wage & salary.
To reward for job performance.

5. Compensation component
monetary
direct
indirect
Non monetary

6. component Direct compensation Base Pay Bonus Long term incentives
Perks or perquisites
Direct compensation

7. Cont… Insurance (health, eye). Leaves (sick, holiday/personal) Clothes
Indirect compensation
Insurance (health, eye).
Leaves (sick, holiday/personal)
Clothes
Company parties
Phones/laptop
Retirement programs
Cont…

8. Non monetary Enhance dignity & satisfaction from work performed.
Promote social relationship with co- workers.
Allocate sufficient resources to perform work assingments.
Offer supportive leadership & management.
Enhance physiological health, intellectual growth.

9. Importance Job description Job analysis Job evaluation Pay structure
Salary surveys

10. Factor affectting Demand & supply of labour Cost of living Society
External
Internal
Demand & supply of labour
Cost of living
Society
Labour unions
The economy
Compensation policy
The org. ability to pay
Job analysis & description
Employee
Factor affectting

11. conclusion
We can say that good compensation can increase the productivity of an organization because its provides various rewards, bonus, schemes etc. and its compulsary for every organization.