Homework 7: Remunerations and Benefits for Employees

Remunerations and Benefits for Employees
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Remunerations and Benefits for Employees
Productivity in an organization arises with improvement in employee motivation. In the current hard economic times, enterprises currently shift from the usual fee-for-service to pay for performance model. Such changes are on the rise due to the demand for the quality, quantity, and efficiency in production. The Pay for performance is a motivation technique based on the pay and benefits need for improvement in quality, and reduction of expenditure in the manufacturing process. However, achievements of such objectives are possible through motivation of employees. Different organizations are facing both benefits and downfalls due to effective or ineffective methods of motivating employees. While other enterprises emphasize rise in payments, other companies delve in other options in ensuring that their employees remain highly motivated and ensure that they reduce the turnover rates. The essay presents two different businesses that have been excelling due to payments and benefits that they provide to employees with other two firms that perform dismally due to the negligence of employee motivation concerning payment and allowances. Besides, the essay elaborates the various options that the staff and employers factor in when making career decisions and the reasons for understanding factors that motivate employees.
Best Performing Companies on Pay and Benefits: Google Inc. and Costco Inc
The Google Inc. occupies the top spot in employee payment, remuneration, and benefits. Currently, it accounts for over a half of the companies worldwide on employee motivation. A Glass-door company through its survey reveals that pays and compensations were the most important source of employee motivation which accounts for 76% for respondents who are employees from different enterprises. However, Google Inc goes further to provide additional packages such as healthcare, free foods, game rooms, on-site dry cleaning and holiday pays among others. On a separate note, the enterprise gives massages, off-site trips, and flexibility in work schedules (Entis, 2014).
The Costco Wholesale Corporation is the largest commercial enterprise whose operations are greater than the Wal-Mart's. The company has the best position in the market with stable financial customers. The companies continue to experience growth during the economic recession with highly motivated employees through first pays and benefits which have reduced the turnover rate of employees. Also, Costco Inc. offers rave benefits which comprise the "Great health and dental insurance plan, vacations, paid holidays, paid sick leaves and time for both the full time and part time staffs. However, its pay is so much competition which is on hourly basis coupled with twice a year bonuses upon hitting the top pay (Entis, 2014).
Worst Performing Companies on Pay and Benefits: Sears Holdings Corporation and Express Scripts
Sears Holdings Corporation has more than 178,000 employees working at the Sears department store in 50 states. The enterprise is ranked as the worst company to work regarding employee mana...