Compensation and Benefits Plan Analysis

1373 Words Feb 3rd, 2018 5 Pages
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Compensation and Benefits Plan Analysis

The competitive business environment determines companies to focus on developing strategies intended to improve their position on the market. This objective is reached with the help of employees and their performance. In other words, it is important to improve employees' performance in order to benefit from an improved position o the market of these companies. The performance improvements are significantly influenced by the motivational strategies developed by these companies.
The motivational strategies developed by most companies refer to financial motivation, but also to other types of compensation and benefits that can stimulate employees' work improvements (McNamara, 2010). Such compensation and benefits usually refer to bonuses, paid vacations, public acknowledgement of results, paid subscriptions to health and fitness clubs, training programs intended to improve employees' skills, and others. There are numerous types of compensation and benefits that can be addressed, but the motivational strategy must develop…
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