In an employment context, several variables can make a job enjoyable for someone and others that make employees feel that they are in an appropriate job. For instance, a passion for a particular job can make employees give their all, hence recording high-performance levels and making the employer succeed in attaining the predetermined organizational objectives. One of the critical variables that makes most employees develop a passion for a particular job is compensation. In addition to creating passion in employees, appropriate compensation is responsible for employees’ motivation towards recording better performances in their respective tasks. Considering Chapter 12 of the textbook, the explanation of compensation is considered different for every employee; hence, it is not considered a one-size-fits-all. Since employees are regarded as the back of any organization, they are entitled to priority treatment from the employer. In this sense, compensation plans are implemented by organizations in a manner that employees are attracted to due to the compensation benefits. This enhances employees ‘ ability to keep top-tier employee talent within the organization hence becoming competitive in the industry of operation (Shrivastava et al., 2018).
Employee benefits plans in any compensation structure vary with various organizations. Generally, most of the benefits in any compensation structure entail; payment raise schedules, wages, employee life insurance, and employee health insurance covers. With the sole objective of attracting and trying to maintain top-tier employee talent, organizations offer more compensation incentives that can go above and beyond the industrial compensation structures. One article that is relevant to recognizing employee compensation defines employee benefits as cash, non-cash, indirect, and periodical salaries and wages. One significant compensation benefit an employer can offer is bonuses and programs for appreciating employees. The core objective of organizations ensuring that appropriate employee compensation measures are put in place entails attracting, engaging, and retaining top talent through industrially competitive compensation plans. These compensation plans must always align with the organization’s financial budget, market correspondence and even aligning to government regulations. Appropriate compensation plans should be able to motivate employees to attract, recruit, and even retain top-tier talents. For example, big organizations that are technologically based, like Google, and social media platforms like Facebook and even Instagram, are known to provide their respective employees exceptional salaries, wages, and other compensation benefits packages that attract, motivate, and retain them.
In the context of this paper, I will consider Google as the organization to analyze. Google is considered one of the biggest companies globally, and its overall compensation benefits were scored on Glassdoor to be 4.5 out of 5. Some of the compensation benefits that Google offers its employees entail a 3- 3-month leave of absence from work, free meals, employees having to carry their pets to work, and many more others (Kang & Lee, 2021). Sometimes, people argue that these beneficial compensation perks offered by Google to its employees were a tactical approach to enhance employees’ stay in the office for longer hours. In doing research, it is evident that organizations can get from employees depending on how they treat them. In the article, the author notes, “How Google’s Strategy for Happy Employees Boosts Its Bottom Line.” Moreover, the author explored the research that The Warwick University published. This research studied how compensation benefits influence employees’ overall performance. According to the study, close to 12% of the company’s productivity improved due to employee satisfaction. In the article, Pavel also noted that organizations with a higher score on employee friendliness (EF) managed to achieve significant returns on equity and assets compared to their counterparts with a low score on employee friendliness (EF) score. Moreover, the high-achieving companies also scored above average for sales-to-assets ratios, the number of patents filed and were below average in expenditure.
In addition to compensation structures of employee motivation, Google’s employee motivation strategy was to encourage its employees to try new things and not to be afraid of taking risks even if they fail in the process. This approach from Google managed to keep Google’s employees more motivated and interested in trying new things since they were always encouraged to come up with new ideas through their various creativities. Owing to this, Google is a classic example of how an employee-inspired workplace can be helpful to any organization. Moreover, employees at Google were encouraged to connect with their counterparts at all levels of management in a frequent manner so that processes could be implemented efficiently. This minimized tensions among the employees, inducing positivity through question-and-answer sessions. Nevertheless, Google also implemented employees’ stock ownership and profit-sharing programs as part of the compensation plan that would motivate them in their respective roles. This employee motivation approach is to the effect that Google’s management used various stock ownership and stock sharing programs to compensate and reward them. For best-performing employees, Google rewards the stock option program, motivating them in their respective roles (Shrivastava et al., 2018).
In conclusion, organizations must consider employee compensation benefits that will attract, recruit, and retain satisfied employees. Moreover, organizations should make it a habit of investing in their employees to reap benefits through employee productivity. This goes a long way to enhance employee morale and motivation, hence finding a sense of value in their respective organizations.
References
Kang, E., & Lee, H. (2021). Employee Compensation Strategy as Sustainable Competitive Advantage for HR Education Practitioners. Sustainability, 13(3), 1049. https://doi.org/10.3390/su13031049
Shrivastava, S., Nagdev, K., & Rajesh, A. (2018). Redefining HR using people analytics: The case of Google. Human Resource Management International Digest, 26(2), 3–6. https://doi.org/10.1108/HRMID-06-2017-0112
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