The Economic Implications of Compensation Package to a Business Process Outsourcing in Bacolod City

  • Luneta Fe S. David KL Seven Accounting Services, Inc., Bacolod City, Philippines http://orcid.org/0000-0001-5548-2682
  • Anabelle S. Palic University of Negros Occidental-Recoletos, Bacolod City, Philippines
Keywords: Business Administration, Economic Implications, Compensation Package, Business Process Outsourcing, Descriptive, Bacolod City

Abstract

As one of the most comprehensive compensation tools for motivating employees, compensation package plans are forms of payment in an organization's compensation practices associated with performance. It is generally one of the organization’s highest costs. According to the U.S. Bureau of Labor Statistics (BLS), 69.6% of a business' employee compensation expenses comprise the salaries and wages. While some costs are controllable, most employers must bear several salary-related costs beyond the base salary (Keegan, 2020). By far, there has never been any attempt to investigate the economic implications of the compensation package in terms of savings on expenditures. Hence, this study primarily intends to determine the economic implications of the compensation package to a business process outsourcing (BPO) in Bacolod City in terms of savings on expenditures. Likewise, it examines the strengths, weaknesses, threats, and opportunities of the company.

Published
2020-11-10
How to Cite
David, L. F. S., & Palic, A. S. (2020). The Economic Implications of Compensation Package to a Business Process Outsourcing in Bacolod City. Philippine Social Science Journal, 3(2), 17-18. Retrieved from https://philssj.org/index.php/main/article/view/222