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Essay

compensation

Essay specific features

 

Issue:

Business

 

Written by:

Benjamin M

 

Date added:

February 22, 2017

 

Level:

University

 

Grade:

A

 

No of pages / words:

9 / 2482

 

Was viewed:

5239 times

 

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Essay content:

Compensation shows employees how much they are appreciated and worth. The most important differentiating element between jobs is the effort involved in performing a job (Biesheuval, 1985). ? Objectives of pay systems (Harzing and Van Ruysseveld, 1999): Objective: How to achieve it. To attract employees: Job salary To keep qualified employees: Bonus or incentive to stay e...
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shares To stimulate effective performance: Payment by results To teach employees new behaviours at work: Multi-skill bonus To compensate for inconvenient working conditions: A separate allowance ? Monetary and non-monetary compensation Compensation is made up of many parts. Although money (extrinsic compensation) is the most recognised, other factors can be just as rewarding...
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