Asked by jessica rogers on Jul 22, 2024
Verified
What is the importance of benefits as a part of employee compensation?
Employee Compensation
The total amount of monetary and non-monetary pay provided to an employee by an employer in return for work performed.
- Analyze how benefits communication plays a crucial role in cultivating appreciation among employees and allegiance to the organization.
Verified Answer
HM
Hailey MagalhaesJul 25, 2024
Final Answer :
Benefits contribute to attracting, retaining, and motivating employees. The variety of possible benefits also helps employers tailor their compensation to the kinds of employees they need. Different employees look for different types of benefits. Employers need to examine their benefits package regularly to see whether they meet the needs of today. At the same time, benefits packages are more complex than pay structures, so benefits are harder for employees to understand and appreciate. Even if employers spend large sums on benefits, if employees do not understand how to use them or why they are valuable, the cost of the benefits will be largely wasted. Employers need to communicate effectively so that the benefits succeed in motivating employees.
Learning Objectives
- Analyze how benefits communication plays a crucial role in cultivating appreciation among employees and allegiance to the organization.
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