TYPICAL COMPENSATION PACKAGES USED IN TQ MANAGEMENT
TYPICAL COMPENSATION PACKAGES USED IN TQ MANAGEMENT My presentation is to inform you about compensation packages. ... com, AThe way a company pays top management plays an important role in motivating the critical performance needed to run the company effectively.@ Compensation is closely tied to motivation and employee satisfaction. Compensation and recognition refers to all aspects of pay and rewards, including promotions, bonuses, and recognition, either monetary and non-monetary or individual and group.(Evans 317) There are three objectives suggested for a good compensation package: (1) attract, retain, and not de-motivate employees (2) reducing unexplainable variation in pay and (3) encourage internal cooperation rather than competition.(Evans318) An article entitled A7 Ways To A Smarter Compensation Package@ tells employees there are seven ways to get yourself the best possible employment package.