Compensation and Salary


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Compensation and Salary

Introduction

Management of human resources in public, profit and non-profit organizations has been a very challenging task. This challenge has been heightened in recent days following the increased competition in the business world. Organizations have been forced to adopt the most competitive strategies so as to sail through the competitive markets. One of the key aspects has been to effectively manage and motivate employees through appealing compensations and benefits. Despite that compensations and benefits to employees are not the most important in job quality; they stand to play a vital role in employee performance. In this case, both profit and non profit organizations have been forced to adopt the most attractive compensation and benefits to their employees. It is worth noting that better compensations and benefits to employees help in attracting and retaining the best staff. In this regard, organizations are obligated with the task of marketing themselves through provision of interesting and distinctive compensations. Various structures and approaches for developing employee compensation and benefits plans have been established whereby they seek to help organizations adopt the best compensations to their employees.

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Sangster, C. (2007). Compensation and Benefits: Strategies Available After Tax Reform. New

York: McGraw Hill.