About compensation management,types of compensation management,objectives compensation management,components of compensation management,importance of compensation management

1. Lakireddy Bali Reddy College of Engineering (Autonomous)
L.B. Reddy Nagar , Mylavaram – 521230. A.P.INDIA
Affiliated to JNTUK, Kakinada & Approved by AICTE, New Delhi
NAAC Accredited with “A” grade , Accredited by NBA New Delhi & Certified by ISO 9001 2008
School of Management Studies
www.lbrce.ac.in.bschoollbrce2011@gmail.com Phone: 08659-222933,Fax 08659-222931
COMPENSATION MANAGEMENT
PRESENTED TO:
DR.A.ADISESHA REDDY
PRESENTED BY:
JASIYA BEGUM(MBA)

3. CONTEXT:
 MEANING
 TYPES
 OBJECTIVES
 COMPONENTS
 IMPORTANCE

4. MEANING:
compensation is the results or rewards that the employees
receive in return for their work . Compensation includes payments like
bonuses, profit sharing, overtime pay, recognition rewards and sales
commission, etc.

7. OBJECTIVES OF COMPENSATION:
1. Acquire Qualified Personnel
2. Retain Present Employees
3. Ensure Equity
4. Reward Desired Behaviours
5. Control Costs
6. Comply with Legal Regulations
7. Facilitate Understanding

8. Components of Compensation Management:
•Wages and Salary
•Incentives
•Fringe Benefits
•Perquisites
•Non-Monetary Benefits

9. Importance of Compensation:
 Attracting Top Talent
 Increased Employee Motivation
 Boost Employee Loyalty
 Increased Productivity and Profitability
 Job Satisfaction So People Stay