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It is an important factor but it is not everything. Organization's social responsibility, its reputation, opportunity for innovation and growth, team work and work-life balance. Treat the employees as its customers makes them proud and cause their retention.
It definitely does. These factors are some of the few that either make employees stay or leave the company.
Dear Mr. Bart
It is one of criteria to select any job .
Warm regards
Anurag
Thank you for inviting me to answer this question good
This is definitely the best because this makes the staff do their jobs better and strengthens the spirit of belonging to them.
Thank you for your reading
Yes it matters for their employees and performance levels !employees' incentives are critical for many companies to maintain a high level of performance !
Thank You
Good Companies do give a lot of importance on compensation and benefits in order to
- To attract best talents from the market
- To retain performers
- To protect confidentiality of the company
Compensation can be your motivational factor depending upon which stage of your career you are at and priorities of life!
However in my opinion compensation can not be a assigned as main motivator it is the satisfaction & ability to do what you are best at your workplace would determine the engagement, logetivity of your career with a particular organization, with 70% of it being influential by your direct reporting manager.
I am sure, its all dependent on individual employee but that not all
A little creativity can lead to similar, less expensive options that can have just as big an impact on employee morale and loyalty.
If you can't offer: tuition reimbursementTry: a compressed, four-day workweek that gives employees time to pursue a degree on their own
It can be very attractive to have safety : in the office and fields
If you can't offer: paid vacationTry: job sharing, in which two part-time employees share the same full-time position, or wellness programs that include sleep breaks and massages
If you can't offer: on-site child careTry: negotiating with a nearby child-care center for a discounted group rate
If you can't offer: an on-site fitness facilityTry: a lunch-hour walking club or discounted local gym memberships
If you can't offer: free parking or transportation reimbursementTry: allowing regular telecommuting days
If you can't offer: counseling servicesTry: allowing employees to bring their pets to work, which has been shown to reduce stress
it is one the factors that give you chance to keep the talent in your organization, but not the only reason.
three things are most important , brand name,compensation and culture or they call it now (environment).
do not think ever the money it is most important for the employees this not right from my side because they will come money oriented this not good at all, you can provide other things that give you chance to keep your talent.
i advice you to do employee satisfaction survey and discover what exactly your company employees need.
last thing if you cant maintain the brand repetition and you cant provide a good culture then you need to take care about your compensation to save your company.
regards
wael
Yes this is really matters for staff because this effect of monetary motivation job satisfaction on the relationship and job performance or turnover ...
Yes is matter, that is employee choice, good retention policy, good payment, if they have good environment, good organization culture and climate that is the best place for work.
