Compensation and reward management bd singh pdf

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1. Compensation Definition:- -The total of all rewards provided employees in return for their services is called compensation
This real-time process allows managers to reward their employees when they meet specific goals and perform at their best instead of waiting until a defined point in time.
This creates more motivation for employees to reach this goal quickly and more incentive for managers to provide feedback.

What are Total Rewards at BD?

Total Rewards at BD includes ,base pay, incentives, recognition, and benefits and programs that support your health, your family, your money, and your lifestyle.
We are committed to making sure that all associates are compensated fairly and equitably for their contributions.

What will you learn in the compensation and reward management course?

Gain relevant, in-depth technical knowledge of compensation and reward management and how to develop tailored strategies and solutions that support real organisational and business needs Through several case studies, you will explore the different processes needed to develop a robust reward strategy.

Why is compensation management important in Human Resource Management?

Management of compensation is one of the most important and strategic aspects of Human Resource Management.
Both employers and employees are equally concerned and serious about it.
Employers want to develop a compensation package that is quite attractive, sustaining and motivating to the employees.

What is a sound compensation/reward system?

Sound Compensation/Reward System brings peace in the relationship of employer and employees

It aims at creating a healthy competition among them and encourages employees to work hard and efficiently

The system provides growth and advancement opportunities to the deserving employees

What will you learn in the compensation and reward management course?

Gain relevant, in-depth technical knowledge of compensation and reward management and how to develop tailored strategies and solutions that support real organisational and business needs Through several case studies, you will explore the different processes needed to develop a robust reward strategy

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