HR compensations are rewards or positive outcomes that employee receive after their work. It is the most integral part of HR supervision because it is a source to deliver encouragement and inspiration to workers or employees in the organization. It helps in influencing the process of goals achieving and effect the whole organization. It includes the employee’s relationship, working parameters and result of the procedure to achieve goals.
Who Develop Compensation Plans
The compensations are usually handled through the supervisor or HR senior with expertise to manage salaries, compensation structures, competitive practices and observing team spirit. In an organization, the compensation specialist also coordinates with the administration in assigning health coverage, savings, funds and other insurances. It is important for the compensation manager to have strong ethics and one direction because of holding sensitive and confidential information of employees and organization.