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COMPENSATION
MANAGEMENT
Submitted by:
Gurpreet Singh
CONTENTS
Introduction
Objectives
Components
Importance
Factor affecting
conclusion
INTRODUCTION
 Compensation   is a systematic
  approach to providing monetary &
  non monetary value to employees in
  exchange for work performed.
 Compensation may be defined as
  money received in performance of
  work and many kinds of benefits
  that an organization provides to
  their employees.
OBJECTIVES
 To recruit & retain
  qualified
  employees.
 To increase or
  maintain morale.
 To determine basic
  wage & salary.
 To reward for job
  performance.
COMPENSATION COMPONENT



                    compensation



              monetary          Non monetary



     direct              indirect
COMPONENT
    Direct
    compensation
   Base Pay

   Bonus

   Long term incentives

   Perks or perquisites
Ad

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Compensation management