Benefits And Benefits Of A Company

1027 WordsJul 28, 20165 Pages
Maintenance “is the provision of working conditions to encourage employees to remain with the business.” In order to do so the business compensates their employees, compensation is “ the payment or benefits (or both) an employee receives in exchange for their labour.” Maintenance is the third stage of the human resource cycle, and the ultimate decider as to whether an employee will remain with the company or involuntarily separate. This section focuses on how Nestle Ltd encourages and rewards their employees to remain with the company. According to research conducted by Nestle, the best motivating factor for their employees isn’t entirely the salary, but the bonuses and the compliments of the company to make working at Nestle easier. Therefore, this has resulted in the creation of the Nestle’s remuneration package known as the ‘Nestle Total Rewards Policy.’ This policy rewards Nestle’s employee’s through monetary and or non monetary rewards. According to the company the objectives of Nestlé 's Remuneration and Rewards Policy are: “To favour a competitive, stimulating and fair Compensation & Benefits structure offering an overall competitive and attractive Remuneration package To establish Remuneration practices taking into account relevant external compensation levels and internal fairness knowing that the remuneration is also determined by the capacity of the Company to improve its productivity” Monetary benefits involve mainly the recognition and the rewarding of an
Open Document