Abstract:

Compensation management is a strategic approach to designing& implementing reward systems that attract, retain and motivate employees while aligning with organizational goals. It encompasses direct financial rewards such as salaries, bonuses,& incentives, as well as indirect benefits like health insurance, retirements plans,& work-life-balance initiatives. Effective compensation management ensures internal & external equity, enhances employee performance and complies with labour laws&industry standards. This paper explores key components, challenges &best practices in compensation management, emphasizing its role in fostering organizational success & employee satisfaction. This plan helps business attract

Description:

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