Compensation management
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This document discusses compensation management and outlines its key components. It defines compensation as consisting of base pay, commissions, overtime pay, bonuses, profit sharing, stock options, allowances, and benefits like insurance and leave. It also lists the steps in developing a compensation program as developing a program outline, determining grades, evaluating jobs, establishing a compensation philosophy, and determining an appropriate salary structure.
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- 1. Swayam Siddhi College of Management and Research Topic: Compensation Management Subject : Compensation and Benefits Submitted to: Ruta Madam
- 2. Preeti Hemant Bharade 6015 Prasad Chaudhary 6023 Ajit Keskar 6073
- 3. Meaning of Compensation Components of Compensation Management System Components of Compensation Management System Types of Compensation Plans
- 6. Base Pay Commissions Overtime Pay Bonuses, Profit Sharing, Merit Pay Stock Options Travel/Meal/Housing Allowance Benefits including: dental, insurance, medical, vacational leaves, retirement, taxes...
- 7. Develop a program outline Determine grades Evaluate Jobs Develop a Compensation Philosophy Determine a appropriate Salary Structure