Reference no: EM132197134

Comment this positively in few sentences?

What compensation and benefits have been used as incentives for employee productivity and motivation? Provide specific details and show the link between the compensation or benefit and the increased productivity or motivation with facts and figures (without violating any confidentiality rules).

Companies or Organizations have a challenge when it comes to acquire and retain employees because people want to make money, so compensations and benefits play a major role to convince their employees or candidates to perform well. People want money or health benefits as the two main compensation and benefit when they work for somebody else, rather than being self-employed. So they look at how much the employer is paying for the position, what health package they offer, do they offer vacations, do they pay bonuses, do they pay overtime, how many hours they will work, and the hours they offer like day time or night time.

Money does not buy happiness alone, people needs to be challenge so they will get the satisfaction of getting compensated for achieving greatness. “Intuitively, one would think that higher pay should produce better results, but scientific evidence indicates that the link between compensation, motivation and performance is much more complex. In fact, research suggests that even if we let people decide how much they should earn, they would probably not enjoy their job more” (Chamorro-Premuzic, 2013). The type of job make a difference on the type of compensation that needs to be offer, for example a construction worker will like bonuses if he finish the construction site earlier while a nurse probably will like paid vacations because she works long hours. Then there are Perks like Google, Facebook and Costco use to motivate their employees. “Google provides free all-day meals to staffers with dishes like porcini-encrusted grass-fed beef and parmesan-creamed onions, Costco offers full insurance benefits to part-time hourly workers, and Facebook lends employees free bicycles to get around its sprawling Menlo Park, CA campus. Those are just a few of the perks and benefits enjoyed by people who work at the companies that place in the top three slots on career site Glassdoor’s new ranking of the 25 American companies with the best compensation and benefits” (Adams, 2014).

Evaluate how effective the compensation and benefits were at motivating employees and increasing productivity.

Compensations to employees motivate employees momentarily like when they get the job, they celebrate that they got it, when they get a bonus they go and buy something or when they get their vacations they plan a trip, but all this compensations does not buy the happiness of the employees, it just help. Benefits are somehow more important because they will be there when the employee will need them versus compensations that is only offer on specific times.