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Employee Benefits and Wage Decision

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Please help in answering questions on human resources recruitment and retention practices:

1. Organizations offer employee benefits for several reasons. First, they want to be attractive to potential candidates. Second, to increase employee morale.
- What makes up the Employee Value Proposition (EVP)?
- Give an example of an EVP and explain how it makes a company more attractive to a potential employee.

2. Pay is not always as simple as picking an amount to pay an employee. You must factor in a variety of elements to come up with the perfect amount. This is not always agreeable between employer and employee. One approach is to use job-based pay or person-based pay.
- Can you describe the difference between these two approaches?
- How do you choose which one to use and when?

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The solution assists with answering the questions on human resources recruitment and retention practices.

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Greetings, Hope you are well.

1. Organizations offer employee benefits for several reasons. First, they want to be attractive to potential candidates. Second, to increase employee morale. What makes up the Employee Value Proposition (EVP)? Give an example of an EVP and explain how it makes a company more attractive to a potential employee.

The employee compensation package is one of the important parts to the overall incentive in attracting as well as sustaining an employee with the company. However, the additional support and benefits ranging from training and career development provides nonmonetary output ...

Solution provided by:
Nichel Anderson, MBA, PhD (IP)
Education
  • BA, American Intercontinental University
  • MBA, American Intercontinental University
  • PhD (IP), Grand Canyon University
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