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Compensation & Benefits
Compensation and benefits are key drivers for recruiting, attracting and retaining talent, and one of the most important aspects of human resource management, as they help maintain workforce motivation. p>
Compensation is payment to an employee in exchange for their work in the organization. The most common forms of compensation are wages, salaries, and even tips. The base salary is based on the role in the organization and obeys a collective agreement. Variable pay - incentives or bonuses - is based on the person's performance in that role. Attractive compensation helps improve job satisfaction, decreases absenteeism and turnover, and makes employees willing to stay longer in their organizations.
Benefits are optional, non-salary compensation provided to employees. These benefits can be, for example, flexible hours, childcare, training or allowing remote work. Benefit plans also help improve employee satisfaction, attract new talent, and keep existing ones.
https://www.equiposytalento.com/tribunas/empatia-consulting/que-debe-incluir-un-modulo-de-compensacion-y-beneficios/2019-09-13/
The real reasons for employee turnover are like those questions we don't want to know the answer to. Perhaps because, if we do, we should face our own mistakes. But isn't that what mistakes are for? We can learn and we must act accordingly, if we want to work in a company where people really like to be.
