Everything you need to stay updated about latest employee benefits and perks.
As a leader, compensation planning is one of the skills you will need to master. One of the most important aspects of organizational planning is to have a compensation plan that not only rewards employees but also provides competitive pay to attract, retain, and motivate employees.
Incentives are a proven way to influence employee behavior and ultimately improve business output. Now there are several types of employee incentive programs that companies commonly use. But the most important thing is for you to find a program that works best for your business.
Just like how compensation is a topic that concerns all employees, it’s a vital aspect of the HR function as well. When it comes to compensating employees, what you offer and how you structure your pay plans are key factors in attracting and retaining talent.
A successful organization is one where employees are satisfied with the compensation and entitled to necessary benefits. With higher satisfaction levels [https://blog.vantagecircle.com/employee-satisfaction/] come increased productivity and a rise in engagement levels. But have you ever wondered, even if your workforce is satisfied with the benefits, is it still a complete and competitive package that can lure top candidates from other organizations? If you have not asked that question yet, th