Role of Compensation Management in Balancing the Employees relationship in Retail Industry in India

Abstract

Compensation, in layman's terms, refers to something provided or obtained as payment or reparation, such as property, for a service or loss. The word Reward, on the other hand, refers to something offered or earned as a reward for good behaviour or as a form of retaliation for bad behaviour. In this context, the current paper focuses on wage management as a means of balancing employee relationships. The study is conducted by taking 199 employees of selected retail industry. The data has been collected by administering a structured questionnaire and analysis is done using regression analysis.