“Compensation management is the process of determining cost effective pay structure, designed to attract and retain, provide an incentive to work hard, and structured to ensure that pay levels are perceived as fair.”
Stephen P Robbins.
2. Prepared By
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Manu Melwin Joy
Assistant Professor
Ilahia School of Management Studies
Kerala, India.
Phone – 9744551114
Mail – manu_melwinjoy@yahoo.com
3. Definition of compensation management
• “Compensation management
is the process of determining
cost effective pay structure,
designed to attract and retain,
provide an incentive to work
hard, and structured to
ensure that pay levels are
perceived as fair.”
– Stephen P Robbins.
4. Definition of compensation management
• “Compensation systems
are the financial reward
structures organizations
use to compensate
individuals for the work
they perform for the
organizations.”
– Linda K Stroh.
5. Definition of compensation management
• “Compensation
management refers to
payment systems which
determine employee
wages or salary, direct or
indirect rewards”.
– I. Kessler.
6. Definition of compensation management
• “ Compensation management is a
system of compensating
individuals for the work they
perform in such a way that the
organization is able to attract,
retain and motivate them to
perform well keeping in view
organizational and market
factors. “
– Deb
