A STUDY ON COMPENSATION MANAGEMENT AT RAYALASEEMA THERMAL POWER PLANT,YERRAGUNTLA

This study examines compensation management is a vital function of Human Resource Management that focuses on designing and implementing fair and competitive pay systems for employees. It includes wages, salaries, bonuses, incentives, allowances, and other financial and non-financial benefits provided to employees in return for their work. An effective compensation system helps attract qualified candidates, retain talented employees, motivate performance, and ensure job satisfaction. This study on compensation management examines the existing pay structure, employee benefits, and reward practices within the organization. It analyses how compensation policies influence employee performance, morale, and productivity. The research also evaluates the fairness, transparency, and effectiveness of the compensation system.