Chapter 6 Compensation: paying for the “Best and Brightest”
Public Administration Singapore-style
ISBN: 978-1-84950-924-4, eISBN: 978-1-84950-925-1
Publication date: 14 April 2010
Abstract
Compensation refers to “all forms of financial returns and tangible services and benefits employees receive as part of an employment relationship” (Milkovich & Newman, 1999, p. 6). A more specific definition is provided by Edwin B. Flippo, who has defined compensation as “the adequate and equitable remuneration of personnel for their contribution to organization objectives.” He identifies its three components as: basic wage or salary (to attract qualified candidates); variable compensation (to motivate job performance); and supplementary fringe benefits (to retain talented staff) (Flippo, 1984, p. 281). Table 6.1 identifies the functions of these three components of compensation.
Citation
Quah, J.S.T. (2010), "Chapter 6 Compensation: paying for the “Best and Brightest”", Quah, J.S.T. (Ed.) Public Administration Singapore-style (Research in Public Policy Analysis and Management, Vol. 19), Emerald Group Publishing Limited, Leeds, pp. 97-125. https://doi.org/10.1108/S0732-1317(2010)0000019011
Publisher
:Emerald Group Publishing Limited
Copyright © 2010, Emerald Group Publishing Limited