IIM Kozhikode To Host Seminar On Compensation Strategy In HRM
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    • IIM Kozhikode to host seminar on Compensation Strategy in HRM
    Compensation Strategy is one of the most important strategies in the HRM Function as it influences the costs of the organization and potential bad decision can lead to very serious damages to the organization. The compensation and benefits strategy is derived from the overall HRM Strategy and it has to be fully aligned. When the HRM Strategy sets the main objectives for the HRM Function, the compensation and benefits strategy has to follow. When the overall HRM Strategy states the low cost of services and employees, the compensation and benefits strategy cannot target the highest salaries at all levels.

     

     The compensation and benefits strategy sets the position of the organization on the job market and defines the items in the total cash in the organization and their role. The role of different components of the compensation is very important as the role of the compensation components can differ. For example, the role of bonuses can be primarily in performance reward or the retention of the employees and the organization has to decide. The compensation and benefits strategy has to reflect the reality in the industry and the surrounding job market.

     

    The compensation strategy needs a strong support from the top management as it sets strong limits to the daily operation of the line management and they usually do not fully agree with all the aspects included in the compensation and benefits strategy.

    ; text-autospace:none'>last date for online registration is 30th April 2011.

     

    Examination will be conducted on 15th May 2011.
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