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Compensation and Benefits

Analytics in HR

Base pay Base pay (also known as basic salary or base salary) refers to the fixed financial amount that an organization pays its employees in exchange for the services they perform. This amount is negotiated during the hiring process and agreed upon before the employment contract begins.

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What is Compensation Management?

HRsoft

Compensation management strikes the balance between the competitive landscape of the industry, regulatory requirements, and employee expectations. Importance Of Compensation Management Compensation management is important because it connects employees’ efforts with the greater goals of an organization.