GNB 10368 Compensation and Management
Table of Content
Introduction 3
Background of the research 3
Research title, questions, and objectives 3
Research rationale 3
Literature Review 4
Concepts of compensation and benefits system 4
Structure of current compensation and benefits (approaches) 5
Exploration of the factors which affect compensation & benefits management 7
Effects of compensation and benefits on staff motivation 8
Conclusion: 10
Reference 11
Introduction
Background of the research
Compensation and benefits management is an important section in human resource management (HRM) system. The traditional view of HRM asserted compensation and management was used as an approach to attract and maintain employment relationship with their employees. Recent studies indicate that high compensation or benefits cannot have permanent effects on retaining or incenting talents in enterprises (Lang, 2008). Likewise, enterprises in sectors (i.e. steel, property estate, etc.) cannot constantly guarantee high budget for compensation and benefits because of turbulence of markets (Hansen, 2010). The questions, such as‘what the true function of compensation and benefits is?’, ‘how to effectively motivate employees with appropriate compensation and benefits approaches’emerged in the area of compensation psychology. As the increasing number of approaches of compensation and benefits, the linkage between effectiveness of compensation & benefits and employee motivation has been being studied and still debated. In this sense, the aim of the research is to further study on this topic and make the research down-to-earth on actual practice.
Research title, questions, and objectives
a. Research title: Exploration of the effects of compensation and benefits on human resource management
b. Research question:
How compensation and benefits make an effect on staff motivation in the process of human resource management?
c. Research Objectives:
1. Outline the structure of compensation and benefits system
2. Explore the
Introduction 3
Background of the research 3
Research title, questions, and objectives 3
Research rationale 3
Literature Review 4
Concepts of compensation and benefits system 4
Structure of current compensation and benefits (approaches) 5
Exploration of the factors which affect compensation & benefits management 7
Effects of compensation and benefits on staff motivation 8
Conclusion: 10
Reference 11
Introduction
Background of the research
Compensation and benefits management is an important section in human resource management (HRM) system. The traditional view of HRM asserted compensation and management was used as an approach to attract and maintain employment relationship with their employees. Recent studies indicate that high compensation or benefits cannot have permanent effects on retaining or incenting talents in enterprises (Lang, 2008). Likewise, enterprises in sectors (i.e. steel, property estate, etc.) cannot constantly guarantee high budget for compensation and benefits because of turbulence of markets (Hansen, 2010). The questions, such as‘what the true function of compensation and benefits is?’, ‘how to effectively motivate employees with appropriate compensation and benefits approaches’emerged in the area of compensation psychology. As the increasing number of approaches of compensation and benefits, the linkage between effectiveness of compensation & benefits and employee motivation has been being studied and still debated. In this sense, the aim of the research is to further study on this topic and make the research down-to-earth on actual practice.
Research title, questions, and objectives
a. Research title: Exploration of the effects of compensation and benefits on human resource management
b. Research question:
How compensation and benefits make an effect on staff motivation in the process of human resource management?
c. Research Objectives:
1. Outline the structure of compensation and benefits system
2. Explore the