Abstract
The aim of this paper is to explore the development of the compensation practice in the context of human resource management (HRM) in Serbia. The objectives are to detect the extent of the usage of different elements in the compensation packages, the level of negotiation during the determination of the basic pay, the responsibility for decision making process regarding basic pay, the extent of the usage of different types of benefits, and to explore the differences between these data in the two research periods, 2008-2010 and 2014-2016. The methodology in this paper includes the theoretical analysis of the compensation systems, as well as the comparative analysis of the data on compensation in Serbia based on the Cranet research. The sample of the study consisted of 210 organisations from Serbia, 50 organisations in the 2008-2010 period and 160 organisations in the 2014-2016 period. This paper brings new insights to the development of comparative compensation management since it points to the development/changes of the compensation practice (in years) in Serbian HRM.