Once all the available information about job candidates has been collected and analyzed, those involved in the selection decide which candidate they would like to hire. Soon after a candidate joins the firm, he or she goes through the firm's orientation program. Orientation is the process of acquainting new employees with the organization. Orientation topics range from such basic items as the location of the company cafeteria to such concerns as various career paths within the firm. The firm's compensation system can be structured to meet the first three of these requirements.
Compensation is the payment that employees receive in return for their labor.
Wage Level . Management must first position the firm's general pay level relative to pay levels of comparable firms. Wage Structure . Next, management must decide on relative pay levels for all the positions within the firm. Individual Wages .