Zügner

Compensation and Remuneration Zügner

Scholarly Research Paper from the year 2005 in the subject Business economics - Personnel and Organisation, grade: 5, University of Cooperative Education Mannheim (International Business Administration), course: Leadership, 4 entries in the bibliography, language: English, comment: This report has been written during my semester abroad in Finland. The university where I studied is called "Turku Polytechnic". Normally, I study at the University of Cooperative Education (= Berufsakademie) in Mannheim. The grades in Finland are from 1 to 5 where 5 is the best one. This report was marked with a 5, comparable to a German 1 (= sehr gut) Besides the report, I also attached a presentation (11 slides) which was held by my collegue and me. , abstract: This essay deals with the reward management of companies. Compensation and remuneration are important issues in human resource management. In the following chapters, we will describe the reward management in detail in order to give a basic understanding about this topic. First, the different levels of remuneration are presented which is a necessary background information. Furthermore we would like to concentrate on the practical work in the human resource department. We will describe how the operational tasks in compensation management are separated between the staff and how these tasks changed in the last decades due to changes in the business environment. In the following part we will name and explain more in detail important factors which influence the compensation and rewarding strategy. We add a short excursus concerning legal minimum wages. This topic is one significant force to control and manipulate the strategic decisions in the reward and compensation strategy. Moreover we will focus on performance related payment systems. This issue became more and more important in the last year and there are many employees who argue against such a system. We will explain it and afterwards we would like to name some argument