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Compensation

Compensation

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Published by subhasishmajumdar

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Published by: subhasishmajumdar on Dec 26, 2009
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04/03/2011

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03/23/09 1
 
Presented By:-
 RAMESH KUMARNEHRA
Compensation and 
 
Compensation
Compensation is what employeesreceive in exchange for theircontribution to the organization. Total compensation
=
Direct + Indirect Compensation
Base PayIncentivesBenefits
 
03/23/09 3
CONCEPT OF COMPENSATION &
C/R possibly the most critical & strategic area of HRM
Employers perspective , Employeesperspective,
Concept of compensation,
 
An organization exists to accomplish specificgoals & objectives hence, hires employees. Theindividuals hired by the organization have theirown needs. One is for money, which enablesthem to purchase a wide variety of goods &services available in the marketplace. Hencethere is a basis for an
exchange
: theemployee offers specific behaviors desired bythe organization to meet its goals andobjectives in return for money, goods, & / or

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