working preocedure for receivable in corporate

May 29th, 2015
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Abilene Christian University
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The compensation management policy and the reward system of an organization are viewed by the employees as indicators of the management attitude and concern for them. A good compensation management system should be able to attract and retain employee , give them a fair deal ,keep the organization competitive and motivate employees to perform their best

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COMPENSATION MANAGEMENTCompensation Management is an integral part of the management of the organization. Compensation Management contributes to the overall success of the organization in several ways. To be effective, the managers must appreciate the value of competitive pay, their human resources, and have an investment view of payroll costs. It is of prime importance for an organization to maintain pay levels that attract and retain quality employees while recognizing the need to manage payroll costs .ABOUT COMPENSATION MANAGEMENT The compensation management policy and the reward system of an organization are viewed by the employees as indicators of the management attitude and concern for them. A good compensation management system should be able to attract and retain employee , give them a fair deal ,keep the organization competitive and motivate employees to perform their best.SCOPE OF COMPENSATION MANAGEMENT IN todays world organizations tries more to asses the worth of an individual in terms of his performance and contribution to the organizations. With the growing demand of workforce and constant challenges in the business environment, organizations have to evolve and accurate system for evaluating jobs and assessing their worth. Compensation management helps to determine the relative worth of a job in an organization in a systematic, consistent and accurate manner. It also helps in estimating the basic pay for each job in accordance with the importanc

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