BUS 434 Compensation and Benefits Management
The responsibility of compensation managers Is to manage organization pay structure, and other benefits manager is to administer a company's employee benefits program.
There are Different types of compensations under the course BUS 434 compensation, and Benefits Management is:
- Base payment
- Commission
- Overtime payment
- Bonus
- Profit-sharing
- And travel/house allowances.
The management relations depend on the fundamentals of salary and wages, so they conduct a salary survey and adjust pay structure accordingly. Other thing covered under Employees Benefit program in BUS 434 Compensation and Benefits Management are medical disability, and life insurance included. An incentive and service program are also introduced to promote actions and behaviour of employees towards the organization. Incentive programs are usually to motivate employees.
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