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By streamlining compensation processes, businesses can improve employee satisfaction, attract top talent, and ensure fairness and transparency. In this article, well dive deep into the concept of Enterprise Compensation Management, its benefits, challenges, and why its crucial for modern HR departments.
It’s a personalized calculation of an individual employee’s total compensation value and can include: Salary Benefits Insurance Pension Tax and fiscal contributions Employer national insurance contributions Short-term incentives (e.g. bonuses, commissions) Long-term incentives (e.g. The value of Total Rewards Statements.
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