Compensation Practice Assignment Example | Topics and Well Written Essays - 1500 words - 3

Compensation Practice - Assignment Example We probably heard a typical expression: give and take. We should dependably things to individuals in return for what you issue them. Remuneration alludes to this Exchange, however in fiscal terms. Remuneration from the executive a representative criticism for work. Its simply the money related quality that head honchos trade for their workers with the administrations that representatives gave. Human Resource Management characterizes pay in these words "worker remuneration alludes to all types of compensation to laborers and emerging from their job (Hill & Jones, 2007). In the recent years many organizations including Verizon Communications Inc. have been designing implementing effective reward system demand to clear fit between the compensation strategy and overall business planning. Compensation system can be considered as the collection of pay decision utilized by administration that may under specific conditions influences organizational operations related to payment of workers and compensation of their various activities is done. (Lebow, 2012). Lately, numerous associations including Verizon Communications Inc. have been designing implementing effective reward system demand to clear fit between the compensation strategy and overall business planning (Hill & Jones, 2007). The degree attaining success related to various pay choices is dependent on the contingencies facing the management of question. For the case of Verizon Communications Inc., they Compensation practices are a set of commitments to following better compensation practices to employees. Compensation strategies act as a booster to motivate various employees as they work to achieve the organization goals. This is to say, any organization including Verizon Communications Inc., that have a better compensation strategy have been able to keep their trusted