Asked by Karmel Abdeljalil on May 23, 2024
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In the bottom-up approach to compensation budgeting,a budgeted amount is allocated to compensation and given to department managers for distribution to their employees.
Bottom-Up Approach
A strategy in management and decision-making that starts at the lower levels of the organization and moves upward, allowing input from employees at all levels.
Compensation Budgeting
The process of allocating and managing financial resources meant for employee salaries, bonuses, benefits, and other forms of compensation.
Budgeted Amount
The estimated financial spending for specific purposes or projects as planned in a budget over a set period.
- Acquire knowledge about the key aspects and importance of a payroll budget.
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Learning Objectives
- Acquire knowledge about the key aspects and importance of a payroll budget.
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