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Explain the direct impact of the compensation strategy towards the performance and sustainability of the organisation.

Explain the direct impact of the compensation strategy towards the performance and sustainability of the organisation.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Explain the direct impact of the compensation strategy towards the performance and sustainability of the organisation.
Construction is one of the fundamental sectors that have an impact on the growth of infrastructure and the economy of the country. Construction business opens up many job opportunities for the community both in the urban and rural areas. It requires a lot of resources such as capital, human and non-human resources. Human resource is one of the main resources that is required in any organisation. A study was conducted in a Nigerian construction company called Pecolo-Brunelli Engineering Limited. This study indicated that the compensation system is the major issues for personnel management. It has an impact on the performance and the sustainability of the organisation. Any company that fails to identify the worth of compensation to its employees usually faces the dire penalties of that negligence. The study further indicated that any organisation that fails to understand the significance of the compensation in the lives of its employees is at high risk failing. The organisation needs to pay attention to the personnel resources inside the organisation to ensure a smooth functioning of the organisation.
Transcribed Image Text:Construction is one of the fundamental sectors that have an impact on the growth of infrastructure and the economy of the country. Construction business opens up many job opportunities for the community both in the urban and rural areas. It requires a lot of resources such as capital, human and non-human resources. Human resource is one of the main resources that is required in any organisation. A study was conducted in a Nigerian construction company called Pecolo-Brunelli Engineering Limited. This study indicated that the compensation system is the major issues for personnel management. It has an impact on the performance and the sustainability of the organisation. Any company that fails to identify the worth of compensation to its employees usually faces the dire penalties of that negligence. The study further indicated that any organisation that fails to understand the significance of the compensation in the lives of its employees is at high risk failing. The organisation needs to pay attention to the personnel resources inside the organisation to ensure a smooth functioning of the organisation.
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