Controlling costs, rewarding behaviours, and complying with legal regulations are all objectives sought through effective compensation management.

Controlling Costs

The practice of managing and reducing business expenses through efficient operations and budget management to increase profitability.

Legal Regulations

Legal regulations are the rules and laws that are established by governing bodies to control or govern conduct, usually mandatory in nature and applied across various sectors and activities.

Effective Compensation

A compensation strategy that is competitive, fair, and aligns with the company's goals, effectively motivating and rewarding employees.