usually cash and includes such elements as basic pay, dearness allowance, overtime pay, shift allowance, incentive, bonus, profit sharing bonus and commissions, etc.
直接薪酬用于描述财务薪酬，通常为现金，包括基本工资、物价津贴、加班费、轮班津贴、激励、奖金、利润分享奖金和佣金等要素。
Indirect compensation or wage supplements or fringe benefits refer to such benefits as provident fund, pension scheme, medical and health insurance and sick leave and various other benefits and perks.
间接补偿或工资补贴或附加福利是指公积金、养老金计划、医疗健康保险和病假等福利以及其他各种福利和津贴。
Non- financial compensation includes praise and recognition and satisfaction of employees.
非经济补偿包括对员工的表扬、认可和满意度。
NEED OF COMPENSATION MANAGEMENT 薪酬管理的需要
The basic need of compensation management is to meet the needs of both employees and the employer. The employers want to pay as little as possible to keep their costs low. Employees want to get as high as possible. The compensation management tries to balance between these two with following specific needs:
薪酬管理的基本需求是满足员工和用人单位的需求。雇主希望尽可能少地支付费用以保持低成本。员工希望尽可能高。薪酬管理试图在这两者之间取得平衡，具体需求如下：
1. Attracting and Retaining Personnel: From organization’s point of view, every organization wants new talent and skill from outside ,for this purpose the compensation management aims at attracting and retaining right personnel at right place in the organization time to time.吸引和留住人员：从组织的角度来看，每个组织都希望从外部获得新的人才和技能，为此，薪酬管理旨在不时在组织内的正确地点吸引和留住合适的人员。
2. Motivating Personnel: Compensation management aims at motivating personnel for higher productivity. Compensation management can be designed to motivate people through monetary compensation.激励员工：薪酬管理旨在激励员工提高生产力。薪酬管理可以通过货币薪酬来激励员工。
3. Optimizing Cost of Compensation: Compensation management aims at Optimizing cost of compensation by establishing link performance with compensation.优化薪酬成本：薪酬管理旨在通过建立绩效与薪酬的联系来优化薪酬成本。
4. Consistency in Compensation: Compensation management tries to achieve consistency-both internal and external-in compensating employees. Internal consistency involves payment on the basis of criticality of jobs and employees’ performance on jobs. External consistency involves similar compensation for a job in all organizations.薪酬的一致性：薪酬管理努力实现员工薪酬的内部和外部一致性。内部一致性包括根据工作的关键性和员工在工作中的表现进行支付。外部一致性涉及到在所有组织中对工作的类似补偿。
OBJECTIVES OF COMPENSATION MANAGEMENT 薪酬管理目标
The basic objective of establishment of a sound compensation administration is to establish and maintain an equitable compensation structure.立健全的薪酬管理机构的基本目标是建立和维持公平的薪酬结构。
Its secondary objective is the establishment and maintenance of an equitable labour-cost structure, an optimal balancing of conflicting personnel interests so that the satisfaction of employees and employers is maximized and conflicts minimized.
它的第二个目标是建立和维持一个公平的劳动力成本结构，以最佳方式平衡相互冲突的人员利益，从而最大限度地提高雇员和雇主的满意度，最大限度地减少冲突。
A sound compensation system tries to achieve these objectives:一个健全的补偿制度试图实现这些目标
(a) For employees:对于员工
Employees are paid according to requirements of their jobs, i.e., highly skilled jobs are paid more compensation than low skilled jobs. This eliminates inequalities.员工根据工作要求获得报酬，即高技能工作的报酬高于低技能工作。这消除了不平等现象。
The chances of favouritism (which creep in when wage rates are assigned) are greatly minimized.偏袒的机会（当工资率被分配时，这种情况就会悄悄出现）大大减少。
Job sequences and lines of promotion are established wherever they are applicable.工作序列和晋升线在适用的地方都有规定。
Employees’ morale and motivation are increased because a wage programme can be explained and is based upon facts.员工的士气和动力都得到了提高，因为工资计划是可以解释的，而且是基于事实的。
(b) To employers:对于雇主
They can systematically plan for and control their labor costs.他们可以系统地计划和控制他们的劳动力成本。
In dealing with a trade union, they can explain the basis of their wage programme because it is based upon a systematic analysis of job and wage facts.在与工会打交道时，他们可以解释其工资计划的依据，因为它是基于对工作和工资事实的系统分析。
A wage and salary administration reduces the likelihood of friction and grievances over wage inequities.工资和薪金管理减少了因工资不平等而产生摩擦和不满的可能性。
It enhances an employee’s morale and motivation because adequate and fairly administered wages are basic to his wants and needs.它提高了员工的士气和动力，因为充足和公平管理的工资是他想要和需要的基本条件。
It att
