Compensation Management

Paper Summary:

The paper presents an overview of the compensation management program for Hallen Corporation, which employs fifty people. The paper provides a legal analysis of how the compensation program will be implemented and discusses the compensation strategy, inclusive of benefits and other indirect compensation.

From the Paper:

"To understand compensation management one must first understand what the term compensation refers to, and then decide how to "manage" it. Compensation is largely considered any "reward or payment for services performed" typically offered to employees of a company (Caruth & Handlogten, 2001). Compensation is not limited to financial incentives and direct incentives; rather, compensation may include wages, bonuses, insurance or other "monetary benefits" that the employer provides to the incumbents of a facility (Caruth & Handlogten, 2001). Compensation in a more defined sense is "total reward package offered by an organization to its employees" (Caruth & Handlogten, 2001:2)."

Sample of Sources Used:

• Caruth, D.L., Handlogten, H. (2001) Managing compensation: And understanding it too. Westport: Quorum Books.
• Martin, D.C., Bartol, K.M. & Kehoe, P.E. (2000) The legal ramifications of performance appraisal: The growing significance, Personnel Management, 29(3): 381.
• White, G. & Druker, J. (2000) Reward Management: A Critical Text, London: Routledge.

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