Small Business

Wise employers know that keeping quality employees requires providing the proper compensation and benefits package. Compensation includes wages, salaries, bonuses, and commission structures. Employers shouldn’t ignore the benefits portion of employee compensation and benefits because the benefits sweeten employment contracts with the priorities that most employees need(Leonard, 2019).Properly compensating employees shows that they are valued as workers and as humans. When employees feel valued, they feel seen as a person and feel better about coming to work.Overall, company morale increases, and people are motivated to work and do a good job. Additionally, when employees know there are bonuses or commissions, they are increasingly motivated to deliver grander results. Bonus and commission compensation plans become a focal point for success(Leonard, 2019).

Leonard, K. (2019, March 1). Importance of Compensation in the Workplace. Small Business – Chron.com. https://smallbusiness.chron.com/importance-compensation-workplace-38470.html.

Response

Moises, yes, I agree employers that value retaining and attracting good employees seek to have a competitive compensation package in an effort to stand apart from the rest. Throughout my working career I’ve become more concerned with the overall compensation package as opposed to just the salary. In order for me to be on board with a company I compare all incentives provided by the company to be sure it will benefit me for longevity. Companies must be competitive with their compensation package in order to compete with other companies and fulfill job seekers needs (Wilke, 2019).

References

Wilke, A. (2019). Does Your Benefits Package Appeal to Job Seekers? Benefits Magazine, 56(11), 70–71.