A Study On Compensation Management At Leelakrishna Auto Mobiles Pvt Ltd

Introduction

Human Resource Management (HRM) is a relatively new approach to process, which consist of four main activities, namely, acquisition, motivation, development, as well as maintenance of human resources. People are considered the key resource in this approach. It is considered with the people dimension in management of an organization.

Importance Of Human Resource Management

An organization cannot build a good team of working professionals without good Human Resources .the key functions of the Human Resources Management team include recruiting people, training them, performance appraisals. Motivating employees as well as workplace communication, work place safety and much more. This is the importance Human Resource Management.

Compensation Management

Employees’ compensation is one of the major determinants of employee satisfaction in an organization. The compensation policy and the reward system of an organization are viewed by the employee as indicators of the management’s attitude and concern for them. It is not just the compensation in tote, but its fairness as perceived by the employees that determines the success of a wage and salary administration system.

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