REVIEW;HR COMPENSATION STRATEGIES AND THEIR IMPACTS - 96390

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                      HR COMPENSATION STRATEGIES AND IMPACTS

 

Better compensation strategies involves the balance between external competitiveness and internal equity. Benefits and compensation determine happiness of the workers and their productivity level together with the capability of the organization in realizing their objective roles. The HR should ensure that the employees are aware of their rights and benefits they are entitled to and compensated creatively. It involves the following(3) strategies:(1) Nonfinancial compensation  that involves advancement  opportunities, recognition opportunities ,work environment and conditions and career developments,(2)Direct financial  compensation  that consists payments received by the employees in form of salaries, bonuses ,wages and commissions provided at regular levels,(3)