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Throughout this course we explored many aspects of HRM, and none draws more heartburn for HR professionals than compensation and benefits.

Throughout this course we explored many aspects of HRM, and none draws more heartburn for HR professionals than compensation and benefits. Let's be honest, for most of us the reason we work is that we need the money and/or benefits. Compensation practices have a simple history: the organization pays as little as it can while the employee tries to earn as much as he or she can. This very struggle helped give rise to unions.


But today's workforce is more complex than ever. We now refer to compensation and benefits as Total Rewards. Research has proven that for many employees, money isn't everything because although money is needed to survive, at some point it begins to lose its motivational value for myriad of reasons. In this way, HR professionals can interpret total rewards to mean more than just compensation and benefits and divide the system between extrinsic and intrinsic values. For this final discussion, if money is not the chief motivator, what other extrinsic and intrinsic values can HR professionals recommend to leadership to help attract and retain a quality workforce



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The truth is that money is not... View the full answer

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