Employee compensation and satisfaction

1. Should geographic regions play a role within an employee’s compensation? Why?

2. What type of data is needed to determine an employee’s compensation? Explain your answer.

3. One additional concern in these areas might be the minimum wage. In higher cost areas, employees frequently make the point that minimum wage is not high enough to deal with local area costs.

4. A compensation benefit package generally includes combination of various benefits that employer plans to provide the employees. The compensation package may include normal wages, various types of insurance, Retirement plans, Paid leaves, Work schedules, Health promotional activities and other perks that can easily increase the motivation of the employees towards the work activities. If an organization has to retain high performance employees then it is mandatory to provide strong compensation package and to promote the values of the organization. To provide all these it is necessary to ensure that the organization taken right steps during different occasions and make the feel about the benefits package. It is quite obvious that the benefit package must add all necessary requirements so that each employ can be satisfied and make consistent effort within the organization. However while providing the compensation package it is essential to look at the competition factor and make one remarkable decision.