what is the main reason for giving the compensation and at the what basis compensation are given? Is there any common benefits given to the employers?
29th November 2011 From India, Dhanbad
Did you get the query during your dreams? Compensation is paid for doing some service which the employee was mandated to do so. Pon
29th November 2011 From India, Lucknow
Hi,
The main reason of giving compensation is to motivate the employee and to satisfy the basic needs of the employee.
Employers usually offer their employees benefits for one or more of the following reasons:
Attracting and retaining talented employees.
Aligning benefits packages with those offered in the marketplace.
Promoting higher levels of morale among employees.
Providing opportunities for promotion or advancement as workers resign, retire, or move to other positions within the organization.
Compensation is based on the contribution of the role. The person may have higher capability and the potential to play a higher role, but it is the role that commands the compensation, not the person.
Here are t he most common benefits and things you should consider about them as you consider your new job.
Health Insurance
Employer Match
Paid Vacation and Sick Time
Life Insurance
Stock Options
Flexible Spending Accounts
Other Insurance Options.
5th December 2011 From India, Nellore
I hope this vl help to u for some extant.
Regards,
Pooja.
HR Recruiter,
ProSearch Consultants
#296,2nd Floor, Opp IDBI Bank,
24th main, J P Nagar, VI phase,
Bangalore- 560078,Karnataka,India
Ph: +91-80- 42039776 / 42038052.
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5th December 2011 From India, Nellore
The employees won't get get motivation by giving compensation.................by satisfying his needs only he will get motivated and engage himself to take interest and start working in the concern........................................... ..........
Regards,
Ojos
2nd January 2013 From India, Chennai
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