Explain how an effective performance management system along with compensation and benefits can attract, develop, and retain talented employees. Analyze employment and labor laws and regulations that impact these areas of HRM listed above and the relationships between employees and employer

Currently, compensation and benefit plays a significant role for the organization that aim to accomplish their objectives and goals. The poor compensation and benefits will lead to low performance and that will lead to low satisfaction level that will increase absenteeism in employee and the outcome will decrease

To create a performance evaluation system in your practice, follow these five steps:

1. Develop an evaluation form.
2. Identify performance measures.
3. Set guidelines for feedback.
4. Create disciplinary and termination procedures.
5. Set an evaluation schedule.