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Includes assessment. Must post first. When you have chosen to apply for a position, what impact...

Includes assessment. Must post first. When you have chosen to apply for a position, what impact do the compensation and benefit package have on your decision? How might compensation and benefits impact the retention of an employee?

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Answer #1

Everybody applies for a job keeping two things in mind- compensation and job profile. Our most decision related to job is driven by the compensation pay package that we expect from the job. For my case, I am more focussed on the job profile, given my focus on climbing up the coporate ladder rather than the money involved. To achieve this I want to learn more and hence I consider startups to be the perfect destination for me. Compensation is definitely a factor as long as I get decently paid (not very high).

Compensation and benefits impact an employee retention in the following manner:

1. People get motivated.

2. Acts as a compromising factor in lieu of a higher role.

3. When the benefits such as medical, tax benefit, flexible work hours etc. are taken care by an organization, it goes a long way for the employee to stay in the job.

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