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Compensation and benefit refer to the compensation or the salary and other monetary benefit which are passed on to the workers by the company’s management personnel. According to the Human Resource Management of any firm, these compensations and benefit are attached with the ultimate level of performance which are then evaluated.
Compensation and benefit help the workers to attain their organizational goals and a balanced achievement. One of the biggest factor, why workers join factories or firms, are due to this compensation and benefit. These involve certain salary perks, incentives, bonus for the workers which are given time-to-time to help the workers work for the better.
The more these compensation and benefit are given out to the workers, the more they are satisfied to work in the following fields. These compensation and benefit are important factors in managing the whole company’s workings and how the level of management can be organized.
The important factors to keep in mind while allowing these compensation and benefit are,
Smart employees know their standard of work and how they should be evaluated so that they can be qualified for better posts. Here are some of the advantages which can be shared through this compensation and benefit.
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