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compensation
Essay specific features
Written by:
Benjamin M
Date added:
February 22, 2017
Level:
University
Grade:
A
No of pages / words:
9 / 2482
Was viewed:
5243 times
Rating of current essay:
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...
displayed 300 characters
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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...
displayed 300 characters
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