Compensation and Benefits Management

Compensation and Benefits Management involves designing and administering the pay systems and perks that an organization offers to its employees. It includes salary, bonuses, health insurance, retirement plans, and other perks that motivate employees and ensure fair treatment. The goal is to attract, retain, and motivate talent while aligning rewards with company objectives and budget. Effective management balances competitive pay with cost considerations, ensuring employees feel valued and are incentivized to perform well, ultimately supporting overall organizational success.