What do you mean by compensation management?

Questions › What do you mean by 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 the process of determining the company's revenues and costs, as well as its future financial status. The goal of this is to set compensation based on these revenue and cost figures.  
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Akshaj Singh answered 2 years ago
A compensation management is a process of evaluating the financial performance and desired results of an employee or team. This process can be used to ensure that the company is retaining employees, providing fair pay, maximizing employee engagement and maximizing profit.  
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Deepak Goyal answered 2 years ago
Compensation management is a process that helps organizations manage their current and future compensation plans. It is important to be able to anticipate, scope and communicate the changes in your business so that employees are informed and able to keep up with the changes.