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Running head: COMPENSATION MANAGEMENT 1 Compensation Management Student’s Name Institutional Affiliation Course Date Compensation Management
COMPENSATION MANAGEMENT 2 Introduction Compensation management is essential for organizations that embrace the use of human labor. In a competitive business, it is hard for companies to retain top talents and stay competitive when they fail to implement an efficient compensation strategy ( Greene, 2018). Compensation keeps businesses in line with their budgets. It also aid in matching jobs of the organization with precise waeges. In the current market, organizations that have attractive reward packages frequently win top talents. Many job seekers are mainly interested in direct compensation (monetary benefits for carrying out job functions) while others are interested in indirect compensation, which comprises the perks, discounts, and benefits that the organization gives (Stern, 2014). Both direct and indirect payment plays a vital role in attracting talented people to an organization. The company I chose for this assignment is Verizon Communications Inc. The paper shall strive to examine the company's compensation strategies and challenges. The paper shall analyze the way compensation impacts on the company's shareholders (Martocchio, 2015). Additionally, the document will examine best practices applied by the organization. The report shall also compare and contrast compensation factors like unions, market trends, and labor laws, which help in under covering the challenges faced by the organization. Briefly describe the company you researched, its compensation strategy, best practices they are applying, and compensation-related challenges they are facing.
COMPENSATION MANAGEMENT 3 Pay for performance: Verizon Communications Inc. gives its workers financial incentives whenever they are attaining some performance measures.

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