Discuss the effect of a good compensation package

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Compensation is considered as all forms of financial return, services, and benefits that an employee receives as part of employment relations. Compensation is considered as the rewards which an employee receives for the contribution which they had put into the organisation. According to Syahreza and Lumbanraja (2017) employees that are well motivated, energetic and passionate about their work are due to their compensation package. According to the study conducted by Syahreza and Lumbanraja (2017), providing basic needs to employees such as decent salary, health and safety facilities enables the organisation to remain in the company. When the basic needs of employees are attended to, it enables them to fulfil other human needs such as self-actualisation.

QUESTIONS 1:

After reading the above abstract discuss the effect of a good compensation package towards retaining talented staff in the organisation. Use the Maslow motivation theory to support your argument.

Reference no: EM133012788

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