Question

Discuss the role of various parties in compensation management

Answer 1

The various parties involved in the compensation management process are as follows -

The victim of industrial accident or workplace tragedy along with his family members.

Trade union for those taking membership so that union leaders fight on their behalf to get a suitable compensation.

Management has a key role.

Answer 2

The role of various parties in compensation management:

• The various parties involved in the compensation management process are together with his family members, the victim of an industrial accident or workplace tragedy.
• The trade union of workers and union leaders campaigns for appropriate compensation on their behalf. Management has an important role to play.
• Compensation administration is leadership or human resource development category which works on scheduling, coordinating and managing the direct and indirect payments received from workers for the job they do.

Learn more about compensation management

Expatriates definition in compensation management

https://brainly.in/question/12579727

How does compensation management help an organisation to achieve its objective?

https://brainly.in/question/9261454