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What is Compensation Administration Overview about?

Compensation administration involves planning, organizing, and controlling direct and indirect payments to employees for their work. The objectives of compensation administration are to maintain a productive workforce, provide equitable pay, and comply with regulations based on affordability. Compensation includes wages, salaries, incentives, fringe benefits, and perquisites. An effective compensation system aims to attract, retain, and motivate talent through competitive pay while following principles like

Author

Gabrielle Ibasco

Language

EN