Compensation Management In Banks

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  • Words: 106
  • Pages: 7
By:Adil.M.A.Khan M.S. (Banking)

Compensation Management in Banks

Concept of Compensation Administration  Base

wages and salaries

  Basis

to judge pay system

  Incentives

and benefits

  System



of compensating employees

Purpose of Compensation Administration  Attracting Talented Resource   Retaining & Motivating Employees   Financial Management   Legal Requirements

Concept of different wages  Minimum

wages

  Fair

wage

  Living

wage

Basic wage Plans  Time

Wage Plan

 Piece

wage Plan

 Skill-based

Pay

 Competency-based  Brand



Banding

Pay

Other kinds  Variable

Compensation

  Executive

Compensation

  Wage

differentials

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