You did a good job. Satisfied with the outcome as I got a good grade without any of my own efforts.
The fundamental goal of this study is to assess the importance of related benefits and determine their impact on employee productivity and motivation. With two employees, from an administrative point of view, benefit packages have a positive effect on the performance of some employees and help reduce the number of employees. Understand and explore the types of interaction practices used to retain employees in the banking and monetary parts of Europe.
Examine the extent of the relationship between the different practices of employee participation and retention in the European administration and assembly associations.
Examine the direct impact of compensation on the relationship between employee engagement and employee retention practices.
What is the idea of compensation and how does it relate to employee retention?
What is the most sought-after price in the banking and financial sectors?
How does a hands-on package help keep employees and improve their performance?
How does performance measurement affect employee retention?
How does work efficiency affect employee retention?
In the book of Jones, S. (2016), she explains that employee reward is differentiated between:
Extrinsic, tangible or transitional reward for undertaking work in employment and Intrinsic reward derived from work and employment.
Extrinsic rewards can be in form of salary, incentive pay and benefits. This serves the purpose to evaluate and compare the contribution individuals make towards companys goals.
Extrinsic employee benefit and perks delivered in non-cash form ( E.G. paid holidays, health care, company cars) or deferred as remuneration (E.G pension scheme, equity share). serve as a managerial tool to recruit, retain and keep employees motivated thus making sure employees are engaged with the company goals.
Intrinsic reward is slightly more complex because it is a more singular approach, it can be divided in:
Environment reward: involves its physical surrounding combined with other factors such as values in the work place and leadership quality.
Development reward: a more individualistic approach where employee can learn and develop its aspiration, getting training and getting acknowledgement for outstanding work.
Payment methods and structures at the payment level interact to influence the efficiency of assets, the results of stability tests and cash productivity;
Higher wages are associated with higher efficiency:
There are permanent losses from the effect of payment on the work of employees;
None of the hypotheses can fully reveal how rewards are assimilated with hierarchical efficiency, but the results indicate support for the efficiency hypothesis (the belief that high wage levels increase efficiency);
High salaries can offset the negative effects of discriminatory former managers.
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