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BBA_HRM
•What is compensation?
•What should be the basis of compensation?
•What are the main components of compensation?
•What are the four basic factors determining pay?
•How to establish pay rates?
•How compensation is aligned with other
components of PMS?
•How compensation is aligned with organization and
HR strategy?
Seema Singh, KUSOM 2
Employee Compensation
What is compensation?
Total of all rewards provided to employees in
return for their labor
Financial Nonfinancial
Indirect:
Suitability?