INTRODUCTION

Organization use compensation strategies to define

how it views and manages employee.

An effective compensation strategy motivates there employees

People often think of compensation as merely salary,

but its more than that
1. Budget Allocation
2. Benefit package
3. Performance Management System
4. Structured Administration
 1. Budget Allocation
This strategy will determine how much of the total
compensation budget will be spent on salary and
what percentage will be spent on benefits and
other incentives.
For example, for a budget of $1000
2. Benefit Package

Employees who have stayed with

organizations because the benefits
were too good to walk away from.
3. Performance Management System
It is important to have a structured performance
management process to ensure employees are meeting
corporate objectives and are assessed on a regular
basis.
Compensation strategies can positively influence
employee engagement and improve employee
productivity.
4. Structured Administration
As with any other business process,structure is
important.
Developing an annual review process, salary
audit,raise process timeline and making sure someone
is responsible to ensure all areas are completed is
critical to successful compensation management
Organizations are only as successful as their
approach to
-Hiring the right people
-Setting clear expectations
-Managing performance
-Rewarding employees for a job well done.
THANK YOU