Compensation, Benefits, and Retention
What is the relationship between compensation and employee retention? Do employees stay with organizations based on salary? Do they leave organizations because of compensation factors? How do benefits impact retention? Use the articles and resources provided to support your ideas.Question 2: Monetary and Non-Monetary Rewards and MotivationPart A: Explain the concept of a Total Rewards Philosophy. Discuss the difference between rewards and compensation. Why is it important to understand what motivates employees? Why do organizations provide both monetary and non-monetary rewards to employees? Use the articles and resources provided to support your ideas.Part B: Of the benefits discussed in chapter 7, list the ones you consider essential. Why are these benefits important to you?