Thursday, December 12, 2019
Compensations and Benefits
Question: Compensation plans usually include a variety of benefits. Name the three benefits that would be most important to you as part of your personal compensation package. Why? Answer: The three compensation plans that would be most beneficial are: Retirement savings After an employee retires, the regular income comes to a halt. If some of the compensation were towards retirement, it would be beneficial for the employees (Budhwar, Debrah, 2013). Bonus and incentives Bonus and incentives act as motivation. If the employees will get the recognition for their work, they will work harder (Ulrich, 2013). Health benefits Good heath will result good input at work. Once the organization will look after the health of the individuals, the production rate of the organization will also increase accordingly. References Budhwar, P. S., Debrah, Y. A. (Eds.). (2013).Human resource management in developing countries. Routledge. Ulrich, D. (2013).Human resource champions: The next agenda for adding value and delivering results. Harvard Business Press.