What are the factors influencing compensation management?

Questions › What are the factors influencing compensation management?
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Nikhil Rawat asked 2 years ago
   
3 Answers
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Priya Vishwas answered 2 years ago
Compensation management is typically a complex and difficult task because there are many different factors influencing compensation management such as company culture, organizational structure, market value, and ability to create a competitive labor market.  
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Akshaj Singh answered 2 years ago
Compensation management is an essential part of every business and its success relies heavily on factors such as company size, industry and organizational structure. A variety of important considerations are taken into account when developing a compensation strategy such as the changing needs of staff, the rise in outsourcing, and more.  
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Deepak Goyal answered 2 years ago
The factors that influence compensation management are many, and they include the global economy, job market, organizational culture and digital transformation.