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Importance 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]
Importance of compensation management
• Compensation plays a
pivotal role in effective
management of human
resources, which is crucial
to the competitive
advantage of
organizations.
Importance of compensation management
• It is essential for
integrating employee
efforts with
organizational goals
and objectives.
Importance of compensation management
• It is part of sound people
management framework
for recruiting, selecting,
socializing, performing,
developing and
maintaining a capable and
motivated workforce.
Importance of compensation management
• It has social
implications as poorly
paid employees are
likely to indulge in
social unrest and
undesirable activities.
Importance of compensation management
• It is a management tool
for controlling and
directing employee’s
productive energies for
improving organizational
competence and
performance.
Importance of compensation management
• It helps in generating a
talent pool.
