Compensation, Organizational Policies and Procedures in HR
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1) From a HR perspective and looking the current state of our economy, which do you is valued the most....compensation, rewards, incentives, or benefits and why? From an employee perspective which do you is valued the most and why? Do you think that what is valued most changes throughout the years as you get older? What impact will this have you on as a manager when developing compensation packages for various positions?
2) As management staff, you need to be proactive in ensuring that your staff are always up to date not just on legislation, but on organizational policies and procedures in general. What are your thoughts?
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Solution Summary
This solution discusses compensation packages from the standpoint of the HR professional and from the employee's standpoint. This solution also discusses the attention that should or should not be given towards organizational policy and procedure awareness within an organization.
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1) From a HR perspective and looking the current state of our economy, which do you is valued the most....compensation, rewards, incentives, or benefits and why?
- From an HR perspective, I place the highest value on the actual amount of compensation. When companies pay their employees well, the employees are more likely to acknowledge the treatment and to return the gratitude with loyalty to the employer. If a company offers employees a variety of incentives and benefits but the pay is low, the employees likely will not find as much satisfaction with the employer due to the lower wages. Cash is needed for almost all aspects of the employee's life. If we don't provide the cash needed at a decent rate, no amount of benefits will make up for this lack. Cash is highly regarded in society. It always has been and remains to be held in high regard due to the power that it has. When we keep employee pay at minimum standards for the company (adequate to high levels of pay), we are providing the employees with the ability to provide better for themselves and their families, which generally outweighs any amount of additional benefits or perks that management can provide.
From an employee perspective ...
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