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Introduction – Compensation and Salary
Management of human resources in public, profit and non-profit organizations has been a very challenging task. This challenge has been heightened in recent days following the increased competition in the business world. Organizations have been forced to adopt the most competitive strategies so as to sail through the competitive markets. One of the key aspects has been to effectively manage and motivate employees through appealing compensations and benefits. Despite that compensations and benefits to employees are not the most important in job quality; they stand to play a vital role in employee performance.
In this case, both profit and non profit organizations have been forced to adopt the most attractive compensation and benefits to their employees.
In consideration with the discussion on employee compensation and benefits, it is evident that it is a crucial aspect of human resource management. With reference to the high competition in the corporate society, each business organization has the obligation of ensuring full satisfaction of its workforce. Based on these insights, employee compensation and benefits ought to be efficiently addressed so as to ensure a high sense of employee satisfaction. A point worth of consideration is that total compensation should be adopted while developing a pay structure. Compensation and Salary.
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Sangster, C. (2007). Compensation and Benefits: Strategies Available After Tax Reform. New York: McGraw Hill. Compensation and Salary.