Enterprise Compensation Management

What is Enterprise Compensation Management ?

  
‘Enterprise Compensation Management’ or ‘ECM’ refers to the management of employee’s compensation in large enterprises. It is mostly performed via purpose-built software nowadays and in most cases, it would be a part of the overall HRMS or Human Resources Management Software.
 
When it comes to a large organization spanning multiple countries, a normal payroll system proves inadequate. One needs to take into account the different expectations of workers from different socio-economic backgrounds as well as understand the different pay scales used locally.
 
Enterprises usually deploy ECM when they need to understand the expectations of the employees from varied backgrounds across multiple countries. The ECM would be capable enough to understand the differentiation between the employee expectations as well as make sure that the compensation provided is competitive as well as abiding by all the rules and regulations of the land.

More HR Terms

Anti-nepotism Policy

What is Anti-nepotism Policy ?    The ‘Anti-nepotism Policy’ is the set of rules that ensure that employees can’t work with, or have any influence

Overtime

What is Overtime?   Overtime refers to the hours worked by an employee that exceeds their regular work schedule. Most employees have fixed hours in

Compensation

What is Compensation ?    ‘Compensation’ is defined as the remuneration provided to an employee in lieu of his or her services. It is distinct

Contact Us

Contact Us

We use cookies on our website to provide you with the best experience.
Take a look at our ‘privacy policy’