What are some items a compensation should accomplish?
A compensation's main purpose is to reward good work. It
motivates employees to achieve out of expectations. Ideally, a good
compensation package will make a employee feel properly rewarded.
It should be in proportion to the personal level of achievement the
person felt he or she has achieved. This would be from the
employee's point of view.
From the executives' point of view, the compensation package
would cost the company as little as possible yet still make the
employee feel properly rewarded. Yet it should not make the
employee feel fully rewarded, and thus breeding greed. It would
make the employee feel rather inadequate and that he or she would
need to work harder to get properly rewarded
.
Related Q&A：
What is an intrinsic reward for a employee？Well, let me tell ya! An intrinsic reward for an employee could be something like a sense of accomplishment when they complete a challenging project successfully. Oh, and feeling proud of the quality of work they've done, that's huge! You know, when they know they've made a real difference and contributed meaningfully to the company or team. Another one could be the personal growth and learning they experience on the job. Like, \Wow, I've learned so much and become better at what I do!\ That kind of thing is really motivating and rewarding from the inside, ya know?
