Compensation Management plans are a strategic part of HRM. They help the company retain its employees by motivating them through monetary or non-monetary perks. These can be in the form of bonuses, incentives, food coupons, stockholding, etc. Since equality between employees has to be maintained, Compensation Management software can simplify this task by acknowledging the right employee behavior with the right set of rewards. This helps in easy budget allocation for compensation purposes and works in the direction of the company goals. In any firm, the optimum use of employee data leads to the correct planning of Compensation Management policies.

Compport Appoints Navneet Rattan as the Partner & COO, India, and Global Head - Product Development to Lead Growth & Accelerate Expansion.

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