A. Gain-sharing plans best fits this approach to compensation . Compensation management is vital for employee motivation.
A compensation scheme is what? (Click here to see infographic) A company's pay structure aspects, such as wages, salaries, perks, and total payout conditions, are all included in a compensation package, commonly referred to as a "total compensation plan." The complete rewards that are offered to employees for their labor and other services to the company are included in the compensation system. In addition to indirect financial benefits, compensation also includes direct financial rewards. For employees to feel motivated, compensation management is essential. Employees who are valued for the contributions they make are more likely to be motivated, devoted, and high achievers than those who are not. Management and the HR department can express gratitude in a variety of ways.
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