Role of Compensation Management in Balancing the Employees Relationship

Abstract

Abstract

Purpose of study: Although management practices evolves over the year, people take it longer to accept any change. Due to the challenging and competitive environment it is essential for the organizations to work on Compensation management. It is identified that what are those practices they can follow to improve the level of performance, motivation and loyalty to gain a competitive edge. Continuous improvement in the processes becomes a need of the day.  If the company has implemented best compensation management practices then it can attract the best employees of other organization from its competitors.  Salary and benefits, pay for performance and performance reviews are the most important practices with the help of these organizations excel in the current challenging environment.

Methodology Applied: During the research the researcher visits the organization many time. Take interviews to the employees of the organization they are operational manager, the employee by assets and sales department, This study used exploratory research Method .collect data from interviews observation or performance appraisal form.

Findings and results: The organization makes the compensation plan but it is not fully implemented in the organization. The salary packages are not fully satisfied the employee’s expectation work load is higher than salaries

Originality of the study: Overall this research explain that Compensation management play an important in managing the performance of the individual as well as the organizational performance as a whole. Compensation management helps to attract and retain the employees of the organization.