Today’s best managers know that compensation is important, but that money is not the most important motivator for employees. Financial security is also important to employees. Employees tend to care about: their base rate of pay, getting pay that is competitive in their local marketplace, having opportunities for variable pay based on performance and merit, and getting stock options to supplement their income. Interesting, variable pay is often seen as more enticing and motivating to younger employees with less seniority in their companies compared to older employees.
Source: HRfocus. 2008, August. What do employees value in compensation? Page 4.
Sunday, July 12, 2009
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