Understanding Compensation Analysis Before diving..

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Understanding Compensation Analysis
Before diving into the concept of acumen in compensation analysis, let’s first define what compensation analysis is.
Compensation analysis involves assessing employee pay and benefits to ensure they are competitive, equitable, and aligned with organizational goals. It includes examining salary structures, incentive plans, bonuses, benefits packages, and non-monetary perks to determine if they meet the needs of both the employer and the employees.
The goal of compensation analysis is to develop a pay structure that attracts top talent, rewards high performance, and keeps the workforce mot