Reference no: EM132945748
Can you let me know how my discussion post sounds and if it answered all the questions?
- What impact does the compensation and benefit package have on recruitment of employees?
- How might compensation and benefits also impact the retention of an employee?
- What factor did the compensation and benefits package have on a position that you have accepted?
- What benefits are important to you when reviewing a job offer?
1. Compensation and benefits packages influence employee recruitment in several ways, namely: retention - A competitive compensation plan reduces employee turnover. As a result, employees will be more motivated to stay in their positions, reducing turnover costs.
Compensation and benefits continue to be key elements in employee retention and motivation after an employee is hired. In general, employees who feel they are receiving a fair compensation and benefits package from the company are more likely to strive for job success. Many people are motivated by the money and benefits they receive from their jobs.
2. Compensation and benefits may have an impact on retention of employees, as the employee will want to remain. If you do not offer any compensation or benefits, your employees may leave and in turn might take your clients with them. Additionally, if you lose employees, you will have to hire new ones, which can be very expensive and time-consuming, both in finding a new employee as well as in training them. Benefits make up a substantial portion of your compensation package, and it is possible for you to improve what you can provide your employees without spending more money. In general, the more attractive your compensation package, the more likely your employees will remain with you. By offering competitive pay and benefits, companies will be able to retain the older employees who have already received training, which in turn saves the company money since there is no need to retrain them.
3. The compensation and benefits package would have played a significant role in my decision to apply. Before accepting a job, I like to know what it offers first. Also, knowing what the compensation and benefits package looked like helped me determine what to expect as I moved forward with the company.
Some compensation packages may be negotiated, while others may not. The best way to determine this is to request a meeting or call to discuss the offer. Then, you can approach the employer carefully and determine if there is room for negotiation. There are many reasons for declining a job offer. You may not be the right candidate for this position. It may be that the salary or benefits do not meet your requirements. Saying no is perfectly acceptable, as long as you do so politely.
4. When evaluating a job offer, I am most concerned about the hours of the position. Having an idea of the company's working hours as well as when I would need to work would help me organize my day and my life. Another consideration is the salary. This is an important factor, since it can determine whether I even apply for the job in the first place. In addition, the type of health insurance, dental insurance, and vision coverage is important because it can help me save money on a long-term basis, allowing me to continue working when I obtain the health, dental, and vision coverage I need.