Stakeholders of the Compensation System
6 Identify the stakeholders of the compensation function and summarize their stakes in the work compensation professionals perform.
The HR department provides services to stakeholders within and outside the company. These include:
Employees
Line managers
Executives
Unions
U.S. government
The success of HR departments depends on how well they serve various stakeholders. “Each constituency [stakeholder] has its own set of expectations regarding the personnel department’s activities; each holds its own standards for effective performance; each applies its own standards for assessing the extent to which the department’s activities meets its expectations; and each attempts to prescribe preferred goals for the ...
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