Basics of Compensation Management

Description

About the Book

The book covers fundamental principles and contemporary issues, aiming to balance conceptual knowledge with real-world scenarios through case studies. Topics typically covered in this book include:

• Objectives and Principles: The fundamental purposes of compensation, such as attracting and retaining talent, motivating employees, and ensuring internal and external equity.
• Components of Compensation: A detailed look at direct financial payments (salaries, wages, bonuses, incentives) and indirect benefits (insurance, retirement plans, paid leave, non-monetary perks).
• Job Evaluation and Salary Structures: Methods for determining the relative worth of jobs within an organization and designing a fair and competitive pay structure.
• Performance-Linked Compensation: Strategies for linking pay to individual, group, or organizational performance using various incentive schemes.

The integration of case studies helps readers understand how to apply these concepts to real-world business scenarios, making it a practical guide for those involved in managing human resources and compensation. Basics of Compensation Management textbook sets the stage by highlighting the critical role of the subject in modern business and the unique value the book offers to students.

About the Author

Dr. Balki Vani, Ph.D in Human Resource Management, TSET. Awarded doctorate in HR management in 2020 from GITAM University Hyderabad. Her areas of interest are Human Resource Management, Entrepreneurship Development and Business Administration. Has a total teaching experience of more than 15years at both UG and PG levels. Presented papers and participated in many national and international conferences seminars and workshops. Has published more than 15 papers in reputed journals and conference proceedings. Presently working in Central University of Karnataka, Kalabuargi from 2014. Subjects handled are core HR specialization papers, General Management subjects, Entrepreneurship Development and Small Business Management, Legal Aspects of Business, Society and Business other Generic elective papers. Certifications to credit are in Introduction to Soft Skills, Digital skilling program on Inclusive Employment issued by skill India, Accounting Fundamentals, Career Edge – Young Professional course.

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