HUMAN RESOURCE MANAGEMENT

Human Resource Management: Compensation Relevance for HSS Employee

Human Resource Management: Compensation System

The objectives for this compensation plan

All organizations have a compensation plan, written or unwritten, formal or informal. For some organizations, the purpose of that plan may be merely to meet compliance requirements. For HSS, the goal of the compensation plan may be to attract qualified employees, to retain those employees, and to motivate employees to direct their efforts towards achieving the goals of the organization. Regardless of the goal, size and complexity of a compensation plan, there are generally many easily-identified elements to any compensation plan. This commentary reviews these elements, poses questions management can use to determine the stance it would like to take regarding compensation, and offers some advice and recommendations on implementing these ideas.

Direct Compensation

HSS direct compensation refers to monetary benefits offered and provided to employees in return of the services they provide to the organization. The monetary benefits include basic salary, house rent allowance, conveyance, leave travel allowance, medical reimbursements, special allowances, bonus, Pf/Gratuity, etc. They are given at a regular interval at a definite time. HSS Basic Salary compensation

HSS salary compensation is the amount received by the employee in lieu of the work done by him/her for a certain period say a day, a week, a month, etc. It is the money an employee receives from his/her employer by rendering his/her services.

HSS House Rent Allowance

HSS either provide accommodations to its employees who are from different state or country or they provide house rent allowances to its employees. This is done to provide them social security and motivate them to work.

HSS Conveyance

HSS provide for cab facilities to their employees. Few organizations also provide vehicles and petrol allowances to their employees to motivate them.

HSS Leave Travel Allowance

These allowances are provided to ...