How Effective Compensation and Benefit System Contributed to Organizational Success
Compensation and benefit strategy plans are necessary in any organization. In large organisation, competition is not only in the market for goods and services but a...
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...s an effective compensation and benefits system is likely save extra money for other projects.
The primary benefit to the employees is the rewards they receive from such compensation and benefits system. Nevertheless, employees are likely to experience a great deal of peace of mind and in turn increase their productivity. The employer can relate better with employees who are at peace with the compensation and benefits plan, which implies that a close coordination between the workers and the management would yield better fruits for all the organization’s stakeholders. In this case, the company would face less or zero rejection from its employees (Ashe-Edmunds, 2016). Therefore, there would be no cases of protesting for poor compensation and benefits or job resignation like it is in the case of Holland Enterprises, which has currently lost about 25% of its staff.
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