The process of allotting the best suitable job for the recruited candidates is the responsibility of an HR Manager. Keeping the talented staff in the organization is also under the responsibility of Human Resource Management Professional. So planning a rewarding system for the employees is a critical part of any organization.
Compensation paid to the employees generally include the salary wage commission and bonus from the employer. Before taking a decision about the pay scale modification in an organization HR professionals should consider the aspects of Â perks and benefits given to each employee. Rewards given to the employees differ from awards which are earned by the employees. Staff Lunch and employee of the month are examples of rewards from the management. Rewards are a form of recognition to the employees which is different from compensation.
The ability to retain the employees through rewards and compensation is crucial for HR professionals. people with higher talent might leave the company upon receiving better job and hiring someone with higher salary when there are other candidates are available should be considered by Hr Professionals. While choosing candidates long-term requirement should be considered for keeping them at the organization.