Strategy #2: Competitive Financial Compensation and Benefits
Posted: Thu Jan 23, 2025 5:30 am
Decent wages, material and non-material motivation, as well as a system of benefits - this is what distinguishes a company that has a queue of candidates.
Methods of distribution and payment of monetary rewards
Base salary or fixed salary + KPI with bonuses and premiums – the level of staff turnover depends on how the company’s system of monetary rewards is structured.
Apple is known for its high salaries office 365 database and generous bonuses for employees, which helps the company attract and retain highly skilled workers.
Working at Apple
Benefits provided to employees
Health insurance, pension contributions, paid vacations, reimbursement of training - all this in a good sense binds the employee to the company, reducing the outflow of valuable personnel.
Pharmaceutical company Pfizer offers employees bonuses aimed at caring for mental health: stress reduction courses, compensation for fitness and yoga classes, webinars with psychologists.
Regular assessment of employee satisfaction
Nike believes that engaged employees feel more valued, so the company conducts a survey to measure engagement and evaluate the workplace climate. Employees also noted that the survey, which is anonymous, makes them feel proud of their sense of belonging to the company and that their opinions are heard.
Based on the results of these surveys, management can identify employee problems and revise benefit and financial compensation packages.
Working at Nike
Based on employee surveys, Dell is creating a social package and building a system of personnel support: flexible hours are introduced, corporate discounts on products are established.
This approach allows us to reduce staff turnover and maintain a high level of employee motivation for a long time.
Methods of distribution and payment of monetary rewards
Base salary or fixed salary + KPI with bonuses and premiums – the level of staff turnover depends on how the company’s system of monetary rewards is structured.
Apple is known for its high salaries office 365 database and generous bonuses for employees, which helps the company attract and retain highly skilled workers.
Working at Apple
Benefits provided to employees
Health insurance, pension contributions, paid vacations, reimbursement of training - all this in a good sense binds the employee to the company, reducing the outflow of valuable personnel.
Pharmaceutical company Pfizer offers employees bonuses aimed at caring for mental health: stress reduction courses, compensation for fitness and yoga classes, webinars with psychologists.
Regular assessment of employee satisfaction
Nike believes that engaged employees feel more valued, so the company conducts a survey to measure engagement and evaluate the workplace climate. Employees also noted that the survey, which is anonymous, makes them feel proud of their sense of belonging to the company and that their opinions are heard.
Based on the results of these surveys, management can identify employee problems and revise benefit and financial compensation packages.
Working at Nike
Based on employee surveys, Dell is creating a social package and building a system of personnel support: flexible hours are introduced, corporate discounts on products are established.
This approach allows us to reduce staff turnover and maintain a high level of employee motivation for a long time.