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Live HRM Experts: Salary Surveys-HR Guide, Salary Benefits, Compensation and Benefits - HRM Advice

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SALARY BENEFITS:

Nobody works for free and nobody does charity, all one need is to get the returns in terms of investment that’s how when people work in an organization, he or she requires is a salary for their satisfaction and happiness for which most of the people join the work place for their livings for living a successful and high priority life by fulfilling all the needs and desires. Salary has lot of advantages in the company’s minds and also in the minds of the employees because salary provides the part of motivation, it gives an employee with high strength and also helps the employee in achieving the goals and meeting the objectives and targets of the company. Salary is a major part for the employees and it is what they are concerned about. Money has its own uses and it is required for any type of needs fulfillment and satisfaction. Money is a motivation factor which helps in retaining the employees and also in achieving the goals as mentioned above. Salary is important in many ways for different types of people because salary provides an overview to the employee for their satisfaction. Salary gives the major value to employees and their work.

Salary helps in attracting the employees towards their work, toward their job, towards their performance. Salary helps the employees in attaining success, measuring the attitude of positiveness and also it helps in depending on the success and level of criteria. Salary helps in the employees to work better and to give more time to the organization for work in comparison with dedication, strong attitude, attraction, and competition and also the level of unique approach to the organization which is important and which is necessary. It is the earning for most of the employees, it is the only thing and it is the only pay for an average class or a middle class family so they can feel the importance of the salary at the end of the month and this type of employee also looks for salary and part of earnings, salary directly related with the working environment. If the business environment is changing it highly impacts reward policies and practices because business environment is a place where person spends most of his time in job and which is really very much important in one’s life. There should be good environment in good human activities. The surroundings affect a lot in terms of work and there are two types of environment that come in business and that is internal and external. Internal environment describes about the internal behavior in the business and workplace that is related to the people around, the behavior of the people around, the money in finance point of view, the materials inside the company that requires in business, the machinery which is required to complete the task and the most important thing is the management who can control the activities as well as business. So there are five different things altogether which require in the business. Now let me describe these things which come in internal environment: The management who manages the business and controls the people if the environment will change then there will be an impact in the HR policies as well as salary part because the management if not taking care of the workplace will not be able to give good business to the company so the goal will get affect and there will be a high impact on HR and salary policies. People if not co-ordinate and respond nicely and work properly it will impact the policies whether it’s a salary or anything else because people are the key assets in many organization and an organization depends on them for achieving the goal and if the goal does not get achieved there will be impact in salary system very highly. If the money and income in terms of profit does not come as per expected then there will be an impact in salary policies. If the machinery is not available as per required then there will be a high impact in the work and there will be an impact in reward policies because the purpose will remain incomplete which highly will impact these policy systems. The behavior when changes for example if our Management or team members then there will be a huge impact in the policy.

If the earning structure is based on the performance may be it helps in building the motivation and the work level increases without pressure to earn good results and so the output becomes in favor of both the employees and the organization which fulfils the goals made.

If the organization reduces the payroll then it is a benefit for an organization as the expenses get reduced and profit margin of the company increases.