Final answer:
Activities like completing a salary survey, reviewing vacation accrual policies, and managing retirement plan data fall under the HR function of compensation and benefits, dedicated to maintaining a fair and competitive employee compensation system.
Step-by-step explanation:
Completing a salary survey, reviewing the vacation accrual policy, and filing audit data with the organization's retirement vendor are activities that represent the Human Resources (HR) function of compensation and benefits. This HR function encompasses the development and management of a company's compensation system, which includes salaries, bonuses, and increases; benefits like health insurance, life insurance, retirement plans, and paid leave; as well as adherence to employment laws and regulations regarding compensations and benefits. The goal of this function is to attract, motivate, and retain employees by ensuring a competitive compensation package.
While other HR functions such as recruiting and selection focus on bringing new employees into the organization and training and development are aimed at improving employee skills, compensation and benefits are centered on the financial and non-financial rewards given to employees in exchange for their work. Tasks such as conducting salary surveys help the organization stay competitive in the job market, while managing vacation policies and retirement plans ensures the well-being of employees. These practices are crucial to maintaining a satisfied and productive workforce which, in turn, contributes to the overall success of the organization.