Compensation Management

Different people gain different levels of satisfaction from their jobs. However, it is very difficult to measure with precision the degree of satisfaction people get from any work related activity they engage in. In order to motivate employees who work exceptionally well, employers may device some forms of monetary rewards that are given in appreciation of their hard work (Gomez-Mejia & Balken, 1992). These monetary may be paid directly to these employees or indirectly. The rewards may be given in short or long-term. The rewards systems are used to attract and retain those who have desired skills and knowledge and those who are willing to put forth the effort needed to link their knowledge and skills to accomplish goals and objectives of an organization (Gomez-Mejia & Balken, 1992). Rewards system that an organization settles on has to focus on worker attention on specific behaviors that particular organization considers...
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