What are the objectives of compensation management?

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Questions › What are the objectives of compensation management?
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Nikhil Rawat asked 2 years ago
   
3 Answers
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Priya Vishwas answered 2 years 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.   
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Akshaj Singh answered 2 years ago
The objectives of compensation management include attracting and retaining talent, improving employee productivity & key performance indicators, and reducing the cost of labor.  
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Deepak Goyal answered 2 years ago
Compensation management serves the following objectives:
  • maximize profit
  • minimize labor costs
  • reach out to new markets and build a loyal workforce.