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Compensations, Benefits, Retention and Motivation

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Question 1: Compensation, Benefits, and Retention What is the relationship between compensation and employee retention? Do employees stay with organizations based on salary? Do they leave organizations because of compensation factors? How do the benefits impact retention? Use the articles and resources provided to support your ideas. Question 2: Monetary and Non-Monetary Rewards and Motivation Part A: Explain the concept of Total Rewards Philosophy. Discuss the difference between rewards and compensation. Why is it important to understand what motivates employees? Why do organizations...

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Question Preview:

Question 1: Compensation, Benefits, and Retention What is the relationship between compensation and employee retention? Do employees stay with organizations based on salary? Do they leave organizations because of compensation factors? How do the benefits impact retention? Use the articles and resources provided to support your ideas. Question 2: Monetary and Non-Monetary Rewards and Motivation Part A: Explain the concept of Total Rewards Philosophy. Discuss the difference between rewards and compensation. Why is it important to understand what motivates employees? Why do organizations provide both monetary and non-monetary rewards to employees? Use the articles and resources provided to support your ideas. Part B: Of the benefits discussed in chapter 7, list the ones you consider essential. Why are these benefits important to you?

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There is a close connection between compensation and employee retention as flexible reward plans are able to retain employees with the market. Companies like Unilever offer fixed compensation that is competitive within the market. Organizations that offer better compensation structure are able to retain their employees because employee stays motivated with good compensation structure.

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