What are the objectives of compensation management?

QuestionsWhat are the objectives of compensation management?
Nikhil Rawat asked 1 month ago
   
3 Answers
Priya Vishwas answered 1 month ago
The objectives of compensation management are: to acquire and retain talented employees, motivate employees and ensure that all the employees work in the same direction.   
Akshaj Singh answered 1 month ago
The objectives of compensation management include attracting and retaining talent, improving employee productivity & key performance indicators, and reducing the cost of labor.  
Deepak Goyal answered 1 month ago
Compensation management serves the following objectives:
  • maximize profit
  • minimize labor costs
  • reach out to new markets and build a loyal workforce.