The activity involved a discussion with a controller at the Core Consulting in Richmond, Virginia. The discussion included her role in the department she heads and how she related them to compensation management. She concerns herself with accurate reporting, accounting reporting, budgeting, and financial focus. She also elaborated on her best understanding, the compensation management principles, especially concerning helping clients to boost their quality staffing. The discussion entailed three compensation management principles, which are the ability to pay, employee development, and performance orientation.
Ability to Pay
She stays in the financial area, which makes her have a deep insight into the principle of the ability to pay. She says that the financial capabilities of an organization are critical with regards to compensation management. The human resource department of any organization should always factor in their financial capabilities when managing compensation. During her job, she says she asks clients about their knowledge about their financial capabilities. She explains that an organization that compensates more than its financial ability would automatically run bankrupt. At the same time, an organization which compensates way too little fails to attract and retain competent human resource which then affects the effectiveness of the organization.
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Performance Orientation
The second principle that she related to is performance orientation. She notes that individual and organizational performance is vital in compensation management. Linking performance to compensation management creates a performance-driven work culture that improves the effectiveness of an organization boosts the quality and efficiency of the human resource.
Employee Development
Finally, the last principle discussed is employee development. The organization she works deals mainly with boosting quality staffing to enhance customer satisfaction, and that gives her experience in employee development. She notes that the concept of employee development is of general importance to organizations and businesses. Additionally, she says that compensation should purpose to motivate employees to acquire new skills and develop the ones they already possess. The development follows the line of continuous changes in the business environment, such as technology, new requirements by employers and clients as well as innovations. These are among the most critical points she tells clients when advising them to boost quality staffing.
