Human Resources
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1. What is the relationship between compensation and employee morale and retention?
2. In your opinion does pay for performance really improve performance? Why or why not?
3. What are incentive plans? How might they help the organization to achieve their objectives? Do incentive plans really improve performance and are they cost effective? Why or why not?
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Solution Summary
This solution discussed the relationship between compensation and employee morale and retention; an opinion if pay for performance really improves it, and what are incentive plans, how they achieve objectives as well as if they improve performance or not.
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1. What is the relationship between compensation and employee morale and retention?
The relationship between compensation and employee morale and retention are worth noting. When a person is paid well, they are motivated. This is considered an external motivator, which keeps people to want to keep going back for more. Whatever the case, when a person has pay, sometimes they are more likely to stick around longer, but it is up to each person. Companies want to make sure that they are able to keep their employees as long as possible, so sometimes a higher pay is a way to do it, but not every organization is able to do this. Without the compensation, people do quit sooner, so it does make a difference. For example, if a person is able to receive $10 an hour, then they will keep coming back for more; however, if they are paid much less, then they may not ...
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