Compensation & Salary Structure Management: A Key Mechanism for Attracting and Retaining Top Talent
Effective compensation management and a well-defined salary structure are crucial factors in enabling organizations to attract and retain high-potential talent. A good salary structure should align with job value, labor market, and business goals to ensure fairness, transparency, and employee satisfaction.
Furthermore, a compensation system that ties rewards to responsibilities and performance can motivate employees, enhance their potential, and encourage self-improvement. It also fosters morale, which is fundamental to building strong employee engagement.
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