Compensation And Benefits An Organization

Compensation and Benefits
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Compensation and Benefits
It is a well-known fact that employees are the most valuable asset organizations have. Without them, it is impossible to achieve organizational goals and objectives. If the offerings do not meet the worker’s health and financial demands, there is a risk of losing the workforce to other organizations that have better compensation and benefits coverage. With competitive compensation and an enabling environment, an organization can sustain a diverse and strong workforce.
A diverse and strong workforce requires competitive compensation. An organization should take time to examine the needs of the employees to facilitate the formulation of benefits packages that address their financial needs. Identifying what competitors offer is an effective way of determining how to adjust the current offer (Mabaso & Dlamini, 2017). Proper compensation makes employees feel that the company appreciates what they do.
A diverse workforce requires an enabling environment to operate efficiently. An organization should put measures to prevent instances of discrimination (Shih, Young & Bucher, 2013). All the workers, regardless of their ethnicity, c...