Total Compensation Methods Paper Free Essay, Term Paper and Book Report
Total Compensation Methods Paper
In today's competitive and global marketplace, employee benefit programs of all kinds have emerged as essential tools used by companies, in every industry sector, to attract productive employees by offering incentives to retain these key contributors. The total compensation packages offered have a huge impact on organizational culture and on employee performance, in addition to the health of the company. Human Resources assist and develop the key components to various compensation packages with the intention of increasing morale and decreasing employee turnover.
Most organizations have a mission and a vision backed by a mission statement that depicts the company objectives for both internal and external customers, declaring to meet their needs with the highest expectations possible. Meeting the needs of the internal customers, the employees, can be quite challenging during difficult financial times. Organizations must find their balance between compensation methods and keeping overhead costs low. Compensation and benefits are the second most common ......
Word Count: 1601
Page Count: 6.4 (250 words a page / double spaced)
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