This is all about looking “outside the box”. It is about looking beyond, and challenging, traditional approaches and systems and coming up with a new way of doing things that is right for your organisation, your situation. It is about “daring to be different”.
A Compensation and Rewards Program is a tool used by employers to effectively attract, retain and motivate employees. The program results in equitable payment for performance of a service, in exchange for the work of an employee.
An effective compensation strategy serves to motivate current employees and attract new ones. Some people think of compensation as merely salary but the real cost of total compensation includes every aspect of employee benefits.
Four generations in the same workplace? It’s a reality for some companies. With the Millennials, Gen X, Baby Boomers and Veterans under one office roof, companies need to manage a range of work and lifestyles.
Knowing that employee tenure is about 3 years, why wouldn’t employers be scrambling to hire older workers? If you know that you can hire someone who is only looking to work for another 5 – 10 years, shouldn’t they be at the top of the candidate pile?