Most
employees are very considered with the compensation and benefits plan that an
organization offered. Nowadays, they not
only look at the compensation such as salary and wages but beyond that. The compensation such as recognition, security
and the bonuses also been considered.
In
addition, compensation and benefits is differing from each other. Compensation in financial term is the wages
and salary that been paid to employee for their work meanwhile in nonfinancial
form it is a forms of compensation that been offered to attract and retain and
attract the employee. However, benefits
are cash or non-cash offered in addition of compensation.
Thus,
in order to manage both compensation and benefits that been given to the
employee, an organization used the web-based compensation and benefits
planning. Therefore, both compensation
and benefits can be organized and easier the process of providing the compensation
and benefits to employee.
Web-
based compensation is an online approach that helps an organization to manage,
analyze, gather and store the information regarding the compensation. It is a web-based that provides a set of
secure regarding the web-bases payment, pension and also insurance application. In addition, when an organization had used
the web-based it can help the organization to view and access the pay,
insurance and pension information. Other
than that, it also enable the organization to view and print the payment that
been made.
In
addition, web-based benefits planning is been used to organize the benefits
planning in the organization by the combination between the human resources
information and payroll processing. For
examples of benefits are security, health insurance, pension and paid time
off. All of these benefits planning will
be organized through the online benefits planning.
Therefore,
a web- based compensation been applied in the organization. Through the web-based compensation
application several of things can be organized through it. In the web compensation application employee
can access the information regarding the payment, insurance and pension. Other than that, it also can be used to
manage the insurance coverage and estimate the regular net pay regarding several
of the career option. There are many
benefits that can be gain by using the web-based compensation and planning.
(360
words)
REFERENCES
Compensation Web Application. (n.d.). Retrieved from http://www.patriotsoftware.com/Employer-Training-Blog/bid/54331/What-is-Compensation#
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