Compensation Philosophy | How to offer competitive salary & compensation to an employee Image by mohamed Hassan from Pixabay Each organization ought to have its very own remuneration theory or compensation philosophy that guides to the matters related to the management of monetary and non-monetary benefits. It is crucial on the part of every HR professionals while hiring any new employees –“ How to offer a competitive salary & compensation to an employee ”? There are few guiding principles of offering competitive salary & compensation to each and every employee in the organization - which will be the topic of discussion today. It indicates a set of trusts and core values which are consistent with the goals of the organization. The pay reasoning needs to accomplish equality, value, openness and consistency in the payment of compensation to the Employees. It needs to send a clear strong message to the Employees that the organization doesn't settle fo...
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