Corporate Strategies to beat the Downturn: Cutting Slack and Layoffs
February 12, 2025
Social entrepreneurs are those who use innovative approaches to social problems such as poverty, lack of access to healthcare in the rural areas, difficulties in bridging the gap between employability and unemployed youth, and problems such as lack of access to credit for women. In these and other cases, technology plays a prominent role as […]
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Many organizations in the contemporary scenario have realized the importance of work-life balance for the employees, so that they remain healthy and happy, which will directly reflect on their productivity at work and overall job satisfaction. Research has proven that by compelling the employees for achieving higher targets/production, may yield results in the short run […]
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The previous article introduced the topic of compensation management and how the “right” kind of compensation goes a long way in making employees motivated and happier.
Hertzberg’s Hygiene theory refers to how certain factors are necessary to maintain “Hygiene” or ensure that the employees are not dissatisfied.
If we take a look at the components of a compensation system, we find that employers decide on what is the right compensation after taking into account the following points.
The components of compensation that have been discussed above are the base requirements for any HR Manager who is in charge of fixing the compensation for potential employees.
There are other variables as well that would be discussed in subsequent articles. This article has introduced several concepts around the topic of components of compensation and these concepts are crucial for HR professionals as well as those aspiring management professionals who want to make a career in the corporate world.
Before concluding this article, it needs to be remembered that exit interviews have shown that over 70% of employees who quit their jobs do so because they are dissatisfied with the compensation that they are getting. Hence, all HR professionals and managers must take this aspect into account when they determine the compensation to be paid to employees.
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