When an organization attempts to attract new talent, many factors may encourage individuals to apply. One important consideration is often the benefits package. Carefully structured compensation systems and benefit plans play a critical role in both attracting highly qualified employees and improving the productivity of those currently employed. This week, you examine how current strategies are changing regarding the selection of an organization’s compensation, productivity improvement programs, and benefits plans to better meet the needs of a diverse workforce and the organizations themselves.
For this week’s Discussion, consider how such factors as salary and benefits have influenced your career decisions.
Post by Day 4 an answer to the following questions:
Your post should be approximately 200–250 words in length.
Use the Week 5 Discussion Template (located in this week’s Learning Resources) to develop a draft of your statement. Then, post your finalized statement to the Discussion thread.
Read a selection of your colleagues’ postings.
Respond by Day 6 to two or more of your colleagues’ postings who chose a different topic in one or more of the following ways:
This chapter explores compensation as a strategic tool to motivate employees. Employers consider a number of factors in compensation. The chapter also examines issues of communicating salary, the relationship between compensation and motivation, and types of financial and nonfinancial reward systems that may be implemented.
Focus on the definitions provided throughout the chapter. Review and consider the examples and anecdotes provided in the chapter that illustrate the major ideas being conveyed. Ask yourself what characteristics create a productive work environment for leaders and employees.
This chapter covers the various factors that influence the design and implementation of compensation systems and benefit packages. It also describes the different types of policies an organization might use in regards to compensation and benefits. Discussions center on the issues of communicating salary, the relationship between compensation and motivation, and types of financial and nonfinancial reward systems that may be implemented.
Focus on the definitions provided throughout the chapter. Consider methods and types of rewards that are used and how they affect employees and employers as a whole. Ask yourself how a manager may determine which method of reward is most appropriate for their organization and staff.
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