Question

Compensation structures are a leading issue for human resources departments in companies of all sizes. You...

Compensation structures are a leading issue for human resources departments in companies of all sizes. You have locations throughout the country. In a minimum of 400 words How would you evaluate compensation packages for employees who are located throughout the continental United States?  

What are the most significant activities can HRM do to retain employees and make them satisfied with the company?

Homework Answers

Answer #1

Compensation is paid by the company to the employees in exchange for their work in the company. It can be in the cash or non-cash format. Mostly compensation is bigger than wages.

1) There are many ways to evaluate the compensation packages for the employees throughout U.S. Some are:-

  • Some countries require certain statutory payment better than their host country.
  • According to the cultural differences, salary also gets negotiated for the employees.
  • Some companies in US are paying expats the foreign service primium. Although the percentage varies from location to location.
  • Housing allowances and cost of living varies a lot throughout the country.
  • Some companies also give health insurance to cover the employee's as well as their family's health.

Human Resource evaluate many things to compensate the employees:-

  1. HR checks what is the most important thing to u- it can be health packages or vacation coupon or may be housing allowances.
  2. The management checks which location will suit the employees and give importance to their preferences.
  3. Some countries in US have different housing allowances such as an expat can choose to stay in a small house with a good locality and also can choose to stay in big house with not so compatable neighbours.

2) Employee retention is the ability of the company to retain or hold back or keep the employees in the company.

Most of the employees leave the company because of :-

  • They are not satisfied with the company or the workplace.
  • They feel that there is no possible way to get feedback and give suggestion or ideas.
  • They feel stressed due to overwork and lack of entertainment in the workplace.
  • Lack of trust and motivation among employers and employees.

There are some methods to retain the employees:-

  • By giving training to the employees, the can regain their values and help them understand the goal and objective of the company.
  • When employees get mentor with strong relationship and proper feedback system, they would not search for other companies to get better opportunities.
  • Managers and team leaders are responsible for a positive work environment by sharing opinions and ideas, showing ethics and having proper discipline, strong interactions etc which can help employees to retain in the company.
  • Company can motivate employees by providing them rewards for like performance of the week, month or may be year.
  • Employees prefer to stay in such organization where they can find proper growth opportunities and skills that will develop their career. The company can provide software, tools or may help them to expand their knowledge.
  • HRM can give importance to the work-life balance of the employees and not to over load them with work. In this way the employees can also provide good output by being less stressed, relaxed and having flexible time for work.
  • Last but not the least is the value of the employees. Employees will put more effort to the work if they feel responsible for the work or if they feel valued or worthy of the job. Giving employees small rewards sucb as free lunches, cab facilities or providing snack or drinks works very well.
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