Page 95 - Appreciating Organization's Biggest Assets

of the schools have strongly focused education sector to ensure the
compensation management to best performance of educational
attract and retain the employee as employee on incentive, salaries,
a cooperative advantage among remuneration, allowance and other
the private schools. All though, benefits. Therefore, compensation
compensation management plays management is very important
a crucial and functional role in to rationalize the utilization in
every school to improve team and reforming policies to enhance the
individual’s performance to achieve effectiveness, efficiency, stability and
objectives and strategies of the employee performance. However,
school. According to Armstrong the study will investigate the
compensation management current compensation management
deal with the formulation and practices in private secondary
implementation of human resource schools in Pune.
strategies, and policies to compensate Problem statement
employee fairly, equitably and
consistently inconsistent with Recently, the private secondary
their values to the organization. schools have faced challenges
Rivai, Fawsi, Silviana, & Abdullah including increasing competition,
added that compensation can be increased rule, and regulation by
used to strengthen organizational the government. However, these
structure; to attract and retain schools have created compensation
good talents; to make competitive management strategies and
advantages; to motivate employees; approaches for effective
to achieve high-performance; to implementation. But those schools
compensate employees based on have stated the lack of strong
legal requirements; to help the theories mechanisms for effective
organization in their strategic goals. implementation of compensation
Thus, compensation management management practices in the
reflects the effort to guarantee fair schools. Therefore, there is still
and equitable conditions of intrinsic faced with some challenges related
and extrinsic both internally and to educational personnel, such as
externally in order to retain and low standard of living in term of
improve the employee performance low salary and other benefits to
and productivity to achieve school motivate them to work harder,
goals. One of strategic goals is more productivity and retain
to enhance the effectiveness of them. Therefore, a great need for
compensation management in additional evidence to support
the compensation management

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