What are the three objectives of a compensation strategy? What are their meanings?

Hello, the three goals of efficiency, fairness and legality.

①Efficiency goals

Efficiency goals include two levels, the first standing in the output perspective, pay can bring the greatest value to the organization's performance, and the second level is to stand in the input point of view, to achieve the cost of pay control. The essence of the remuneration efficiency goal is to bring the maximum value to the organization with appropriate remuneration cost.

②Fairness goal

Fairness goal includes three levels, distribution fairness, process fairness, fair opportunity.

③Legitimate goal

Legitimate goal is the most basic premise of the enterprise salary management, requires the enterprise to implement the salary system in line with the national, provincial and regional laws and regulations, policies and regulations, such as not violating the minimum wage system, statutory insurance and benefits, salary guideline system and other requirements of the regulations.