International Journal of

Business & Management Studies

ISSN 2694-1430 (Print), ISSN 2694-1449 (Online)
Systematic Analysis of Compensation Mix Literature: A Forgotten Area or an Oversight?

Abstract


The compensation ratio is the proportion in the workers' compensation scheme of financial and non-financial benefits. The word has seen little study despite calls from incentive researchers.This paper conducts a detailed review of the literature on compensation mix, with special emphasis on its dimensions and components, and delves into the existing gaps in the literature on the topic. Usage of a systematic review methodology as a research design in which synthesis identifies, analyzes and summarizes relevant literature in order to obtain evidence of the underlying factors in order to perform a more thorough analysis of the subject area.

The paper finds that it is important to look at a broader definition covering all components of the compensation mix/reward mix, because of its diverse existence and compensation organizational dimensions, various metrics have been used by researchers to calculate compensation mix without any framework emerging. The paper concludes that more comprehensive research is needed in the area of the compensation mix because most of the field research focuses on executive compensation and the gap remains on the need to increase current knowledge of the concept