COMPENSATION MANAGEMENT IN BHARATI AXA TRICHY-A STUDY

Abstract

Employees need to be compensated for their efforts based on volume of time or volume of production. Compensation refers to all forms of financial rewards received by employees. It arises from their employment. It occupies an important place in the life of the employee. It is a considerable cost to the employer. Compensation dissatisfaction can lead to absenteeism, turnover, job dissatisfaction, low performance, strikes and grievances. Majority of labor-management disputes relate to compensation. Compensation is a key factor in attracting and keeping the best employees and ensuring that the organization has the competitive edge in an increasingly competitive world. This research guidelines, and examples provided in this report will help you tackle this challenging but crucial responsibility. KEYWORD:Compensation,Rewards,Performance,Disputes