Articles on compensation management pdf

This study examine the effect of compensation management and employee performance in Nigeria organization. The study aim at investigating the influence of performance based compensation, competency-based-compensation and equity based-compensation on employee performance. Relevant conceptual, theoretical and empirical literatures were reviewed. The study was anchored on Human Capital Theory and Reevaluating Executive Compensation to Meet Stakeholder Needs. Executive compensation Digital Article. Seymour Burchman. Blair Jones. How boards can align executives' incentives with the This article aims to differ from existing surveys of executive compensation. Core, Guay, and Larcker (2003) and Frydman and Jenter (2010) focus largely on the empirical evidence. Murphy (2013) provides a histor-ical perspective and discusses the role of institutional constraints. Edmans and Gabaix (2009) focus exclusively on recent theories Milkovich and Newsman, (2002) argued that compensation management system can create and sustain a competitive advantage for organizations. In recent years, the inclusion of non-financial measures has gained some popularity in compensation management, while some schools demonstrate positive effects of incorporating non- financial measures in to Hence, compensation management is something that companies must take seriously if they are to achieve a competitive advantage in the market for talent. Considering that the current trend in many sectors (particularly the knowledge intensive sectors like IT and Services) is to treat the employees as "creators and drivers of value" rather Compensation Management: Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction. Compensation management, also known as wage and salary administration, remuneration management, or compensation management attracts and retains quality employees. It motivates employees, and improves organizational effectiveness. In the article of Darlington Hank in 2005 on "The Basics of a Good Compensation Program Part 2", it highlights the importance of creating a well-thought-out compensation philosophy, and the Nature and Purpose of compensation management The basic purpose of compensation management is to establish and maintain an equitable reward system. The other aim is the establishment and maintenance of an equitable compensation structure, i. e, an optimal balancing of conflicting personnel interests so that the satisfaction of employees and Current drivers. Compensation—salary and wages—is the largest component of an organization's total labor costs, 1 accounting for up to 70 percent of an organization's total costs. 2 And yet many organizations seem curiously uncertain about how to approach this significant area of spend. In our 2020 Global Human Capital Trends survey, most respondents said that their organizations were The basic objective of compensation management can be briefly termed as meeting the needs of both employees and the organization. Employers want to pay as little as possible to keep their costs low. Employees want to get as high as possible. Objectives of compensation management are; Acquire qualified personnel. Retain current employees. The HR Compensation Manager directs the organization 's compensation program