Remuneration Benefits
Remuneration and benefits normally known as a compensation programme is a typical HRM function. HRM should focus on using a compensation programme as a tool for effective utilisation and management of Human Resources to achieve organisational objectives. HRM develops policies on salaries and other benefits to employees for deriving commitment to the organisation. They also reward superior performances with incentives and bonus payments. HRM tries to offer economic benefits including items like superannuation, life insurance, low cost loans, profit sharing, allowances, kiwisaver and share purchase schemes. They also try to reward employees with recreational benefits like provision of leisure areas, sport facilities, social clubs and flexibility in working hours. It is the responsibility of HRM to devise these remuneration and other benefits in line with market place competitiveness to maintain motivation of employees.
HR Tool Kit:
HR Marketplace:
Relevant Websites:
Knowledge Base Search | Browse Topics: A-H I-P Q-Z |
Can’t find what you’re looking for? Contact HRINZ for help.
For articles, tips and tools members can view HR Guides, Human Resources Magazine and Other HR Articles.
Disclaimer: This information has been written for and submitted to HRINZ for publication and has been published in good faith for the general information of HRINZ Members of the Institute. HRINZ accepts no legal responsibility for the contents of the Knowledge Base and appropriate professional advice and assistance should be sought in particular cases.
