COMPENSATION ADMINISTRATION of human resource management is considered as the _ of human resource function

COMPENSATION in the form of _ is a PRIMARY MOTIVATOR and ticket to survival

_ can be classified into DIRECT and INDIRECT

policies affect compensation:

_ defined as the means of GIVING MONETARY VALUE equivalent to any WORK performed by employee

it is the BASIC PAY given to the employee for the actual work rendered usually in the form of salary or wage

_ refers to a FIXED AMOUNT of pay

_ is used to mean an HOURLY or DAILY BASED pay

_ is the PAY to actual ACCOMPLISHMENTS in performance such as bonuses and incentives based on a target sales quota or target productivity

these are INDIRECT REWARDS which may either be government-mandated or voluntarily given by employer

_ is the ACTUAL MONETARY VALUE that ENTITLES an employee

_ refers to NONMONETARY ASPECTS of COMPENSATION

_ one of the challenges of the managers is to make employees HAPPY with their PAY

ENSURING COMPETITIVENESS by aligning pays with competitor

a major dilemma among managers is to consider _ to performance as factor of pay

defined as the PROCESS of DETERMINING all the INFORMATION specific to PARTICULAR JOB

referred as WRITTEN SUMMARY of all the duties and responsibilities of a particular job position

is the process determining the WORTH of a JOB

_ help in DETERMINING ENTRY PAY and incremental INCREASES during performance evaluation or promotion

Some organizations participate in _ and purchase market data on prevailing rates for different positions in the industry where they belong

one of the OBJECTIVES of COMPENSATION is to RETAIN AND ATTRACT _ employees to work in organization