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– Nelson Mandela

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The Nature of Compensation

The Nature of Compensation

Q For our first question, take a moment to think about compensation. What does compensation mean to you as an employee? Talk to your colleagues at your workplace. What do they think about compensation – and how well they are believe they are compensated. Are there issues? Is it really all about money? Is there a psychic component to compensation for you or for them? Conduct brief research and see what experts say is the effect of satisfied employees on a company’s bottom-line.

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The company compensation can be considered as the benefits and cash rewards in order to motivate and influence the employees in order to perform in their best manner. As an employee, the compensation is a kind of appreciation and acknowledgement by the higher management of the organization as my contribution to the works of the organization (Leave & No 2012). However, there are several confusions and complexities regarding the nature of the compensation. Compensation includes an increment in salary, time off, bonus and incentives. The issues regarding the compensation suggest the employment trends, problem in valuing the jobs in an externally and internally.