They are then in charge of administering, managing and evaluating the payroll, salary structures, and incentive schemes. Basically, they make sure that the right people get the right amount of money, at the right time.
The right compensation and benefits schemes ensure that hard-working employees are rewarded fairly and in the most cost-effective way for the company. This in turn then motivates employees to sustain their performance.
The compensation, benefits and reward schemes that these HR professionals manage are not only important for retaining and motivating employees, but also for attracting new people to the company. Salary and incentive packages are one of the main reasons why people apply for specific jobs. The more attractive compensation and benefit schemes tend to generate more interest in new positions.
Medical insurance
Vouchers
Capital bonds reward schemes.