Which has been able to offer better compensation

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which has been able to offer better compensation practices for the employees. Google has been able to offer a competitive compensation strategy that involves higher strategies and better benefits which are not regulated by the labor unions thus favoring the employees. Market factors have an impact on Google’s performance in the competitive industry. Some of the company’s competitors include; Facebook, Apple, Yahoo, and Bing among other technology giants. Google, therefore, has to offer a competitive salary to their employees when compared to the salary offered by the other companies. The company also offers enormous unconventional benefits such as the health benefits, retirement packages, free meals and other
COMPENSATION PRACTICES 7 bonuses that seek at improving the retention rates of their top performers. Google’s main aim of improving their compensation packages is ensuring that they retain their top performers in the company. Evaluate the effectiveness of traditional bases for pay at the company you researched
COMPENSATION PRACTICES 8 and improvement culture. Some of the drawbacks include subjectivity and tendency to create favoritism among the employees which may be counteractive. Conclusion In conclusion, compensation practices are essential tools that are used in an organization to ensure improved performance and productivity of the employees. Google has a clear compensation strategy that involves high salaries and unconventional benefit packages. Gender wage disparity is one of the major challenges facing Google’s compensation practices. Labor unions affect the enforcement of certain laws and regulations in an organization. Google has incorporated several compensation practices to improve productivity and overall performance.
COMPENSATION PRACTICES 9 References Gomez-Mejia, L. R., Berrone, P., & Franco-Santos, M. (2014). Compensation and organizational performance: Theory, research, and practice . Routledge. Gupta, M. (2014). Employees Satisfaction Towards Monetary Compensation Practices. Global Journal of Finance and Management , 6 (8), 757-764. Mohamad, M. H., Yahya, K. K., Ishak, S., & Nordin, R. (2016). The influence of compensation practice on performance of enforcement employees. Upneja, A., & Ozdemir, O. (2014). Compensation practices in the lodging industry: Does top management pay affect corporate performance?. International Journal of Hospitality Management , 38 , 30-38.

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