Compensation And Benefits Of Employees

1446 WordsJun 26, 20156 Pages
Compensation and Benefits When most people thing of compensation and diversity in the same category, they assume the discussion will be under the umbrella of discriminatory practices against women and minorities. However, compensation and benefits are tools at the disposal of human resources professionals for recruiting and retaining a diverse employee pool even in the absence of a formal diversity management programs. Like a properly executed training and development program, benefits packages can also be levied to attract and retain workers, as well as motivate them. Employees have multiple needs that vary based on age, family, cultural values, and stage of career, and human resources departments are tasked with finding solutions to accommodate this wide range of concerns, without anyone feeling as though they are being treated unfairly. While benefits like on-site daycare would work wonders to attract and retain parents of small children, offering such a pricey perk to that is only useful to a certain segment of the employee pool can be off-putting to other workers. Finding the balance between the needs of the company, needs of the employees, and the perception of fairness is critical. Where compensation and benefits become a critical tool for human resources is talent retention. Much has been discussed lately regarding the female brain drain, where women are leaving corporate America in droves. There are many things human resources can do to mitigate this that if open
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