Bibliography

A. Discussion Questions

1. In your own words, what is employee compensation and how does compensation affect performance in the workplace? Explain your answer in detail provide an example(s).


Compensation of employees is a statistical term used in national accounts, balance of payments statistics and sometimes in corporate accounts as well. It refers basically to the total gross (pre-tax) wages paid by employers to employees for work done in an accounting period, such as a quarter or a year.

Employees want to be paid well for the job they do, both for their self-esteem and as a practical means to living. The importance of compensation in employee retention depends somewhat on the type of job and industry. A financial planner or stock broker, for example, often is more concerned about compensation than most people who go into nonprofit and health care fields primarily to help people. Compensation includes not only salary, but also benefits and other perks.

Rewards play a significant role to enhance the job satisfaction and commitment of an employee whether he is working in any type of organization. All benefits are considered reward determinants that an employee receives from their workplace. Salary is the best predictor of the individual experience within an institution. However the same may not be true as many persons pursues the jobs which will make them achieve self-esteem through power but not having much pay package i.e. in case of civil services or incase one opts to join armed forces.

2. Does pay matter around the world? Explain your answer in detail and provide an example(s).

Pay does not matter at all. The question tries to supports the belief that the highest paying job is the best job. But, As a result, many people get caught up in the never-ending game of more, more, more through work, work, and work in hopes that more will lead to greater happiness. This belief is one of the leading causes of work holism.

For us,

OUR SALARY = OUR REVENUES...