Slope of compensation management - compensation management - Manu Melwin Joy

Slope of compensation managementCompensation Management

Prepared By

Kindly restrict the use of slides for personal purpose. Please seek permission to reproduce the same in public forms and presentations.

Manu Melwin JoyAssistant Professor

Ilahia School of Management Studies

Kerala, India.Phone – 9744551114

Mail – [email protected]

Slope of compensation management

• Every person has a different

definition of compensation

depending on the life

experiences of that person. To

a watchman working in an

organization, the word

compensation is likely to mean

money.

Slope of compensation management

• To a manager or executive

concerned about paying for his

children’s college education and

saving for retirement,

compensation will mean money as

well as the organization's stock

options, performance bonus,

ownership stake, recognition,

career growth and many more.

Slope of compensation management

• To a social worker, it could

be the sense of satisfaction

one gets by serving the

disadvantaged people rather

than money, stock options or

performance bonus that is

more meaningful.

Slope of compensation management

• Thus compensation means not

just money but benefits like

employee development, even

though not necessarily viewed

by the employee as

compensation, is a substitute

for money and a major cost for

organizations.

Slope of compensation management