COMPENSATION MANAGEMENT SYSTEMS

QUESTION:

Define and explain fully, the concept of “Compensation,” indicate what the components of a compensation management system are, and critically suggest what effective compensation policies are required by management to enhance the competitiveness of the organization.

ASSESSMENT DETAILS
(a)Definition/Explanation of compensation. (12 Marks)
(b)Meaning of compensation management (5 Marks)
(c)Components of a compensation management system
(10 Marks)
(d)Effective compensation policies: Discussion (15 Marks)
(e)Suggestion of policy ingredients for competitiveness
(12 Marks)
(f)Organisation/Structure (8 Marks)
(g)Grammar/Spelling (4Marks)
(h)References (4 Marks)
(TOTAL 70 MARKS)

Sample Solution

ACED ESSAYS