Relationship between remunerations and performances of the employee
Relationship Between Remunerations and Performances of the Employee
Figure 1: Compensation
According to TULASEE, (2018), remunerations help to motivate employees to do their jobs happily and improve their lifestyles. Remunerations are the internal part of Human Resource Management. And it also helps to improve the organization's effectiveness
remuneration given to employees based on their contribution to the organization. Mainly it can be divided into two categories. i.e. monetary remuneration and non-monetary remuneration. Monetary benefits include salary, bonuses, sales commission, profit sharing, overtime payment, etc…
Figure 2: Payday
Non-monetary benefits include Health insurance, flexible hours, skill development, pension plan, meal break, paid vacation, etc…
Figure 3: Nonmonetary benefits
Sometimes there are some arguments,
One can say an employee is a cost to the organization and one can say an employee is an asset to the organization.
In my view, it depends on the employee's behavior and also the way the organization treats them.
If you want to have a good salary and better life you must honor the organization. then the organization also can go to their galls easily.
Conclusion
monetary or non-monetary remuneration is the main motivation for an employee. it encourages them to be excellent in their profession. but the employer must have a good understanding of each and every employee and these benefits should based on their performance.
Table of Figures
Figure 1: Compensation
Figure 2: Payday
Figure 3: Nonmonetary benefits
References
Appleby, G. & Schultz, E., 2020. Littler. [Online]
[Accessed March 2024].
Groysbery,
B., Abbott, S., Marimo, M. R. & Aksoy, M., 2021. Harvard Business Review. [Online]
[Accessed March 2024].
TULASEE
NAIDU, A. & SATYANARAYANA, G., 2018. IMPACT OF COMPENSATION ON EMPLOYEE
PERFORMANCE. INTERCONTINENTAL JOURNAL.
The contents are good. However, need to have citations to support your points and claims, then have to list the references at the end. The academic writing needs citation and references.
ReplyDeleteBoth monetary and non-monetary benefits play in an employee's work engagement and productivity.A well-structured and balanced remuneration system can benefit both the employees and the organization, leading to mutual growth and productivity.
ReplyDeleteWell described that how importance is a well - structured remuneration system to the benefits of both the employees and organisation..
ReplyDeleteInteresting topic with a clear explanation
ReplyDeleteIt's clear that competitive and equitable pay may act as a strong incentive for workers, inspiring them to perform to the best of their abilities with this article. But it's also critical to acknowledge that a number of other elements, such as prospects for advancement, organizational culture, and job happiness, have an impact on performance.
ReplyDeleteGood approach. but better to have some detailed descriptions, and sub topics and formatting.
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ReplyDeleteYour blog offers valuable insights and information. Well written.
ReplyDeleteI think it's a well-written blog that clarifies a significant HRM issue.
ReplyDeleteYour blog was insightful and well researched..
ReplyDeleteEmployee compensation should accurately reflect their performance, match incentives with organizational objectives, and increase engagement, motivation, and retention all the while maintaining equity and fairness in compensation procedures.
ReplyDeletePerformance based culture is more important in HRM
ReplyDeleteThe relationship between remuneration and employee performance is complex, influenced by various factors like motivation, job satisfaction, and organizational culture. While higher pay can incentivize better performance, other elements such as recognition, opportunities for growth, and job autonomy also play crucial roles in determining employee effectiveness and productivity.
ReplyDeleteYou have presented a timely topic. It has a very important massage for today. Most reputed organisations reward their employees based on the Performance of the employees. Every organisation has given personal goals to their employees to achieve company goals, the remuneration given to them by the organisation may change. Therefore, remuneration and performance is an important aspect of HRM.
ReplyDeletewell describe about compensation.
ReplyDeleteNice topic. Pay is a major factor in motivating worker's success.pay and performance are positively correlated when employees receive fair compensation since it encourages loyalty and productivity in addition to motivating them.
ReplyDeleteIF organization will be offering the best benefit to the employer they will not leave from the organization. HR have the bigger role in this area to convince the employee and get best benefits to the employer. but many of HRM will not do properly.
ReplyDeleteGood job.. Well done..
ReplyDeleteThis blog post provides valuable insights into the relationship between remuneration and employee performance, emphasizing the importance of both monetary and non-monetary benefits in motivating employees. It highlights the significance of understanding individual employee needs and tailoring benefits based on performance, ultimately contributing to organizational effectiveness. By recognizing employees as valuable assets and aligning rewards with their contributions, organizations can foster a mutually beneficial relationship where both parties thrive.
ReplyDeleteThis article effectively highlights the relationship between remuneration and employee performance, emphasizing both monetary and non-monetary benefits. It underscores the importance of recognizing employees as valuable assets to the organization and suggests that a positive relationship between the employer and employee is essential for mutual satisfaction. The inclusion of figures provides visual representation, enhancing understanding of the concepts discussed. Overall, the article provides valuable insights into the significance of fair compensation in motivating employees and improving organizational effectiveness.
ReplyDeleteshort and sweet explanation.of course both monetary and non monetary benifits closely related to
ReplyDeletean employee's effective output towards the organization.well done
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ReplyDeleteRemunaration is the driving energy of the employees of an organisation,clear stratergies laid down in this regard is a vital point in enhancing the productivity of employees.Interesting articale.
ReplyDeletePerformance based remuneration is a good idea to give enthusiasm to everyone to perform wel
ReplyDeleteRemuneration and employee performance has a positive impact to the organization. If employees receive more wages, bonuses, increments they will work very satisfactory. This article has given a clear idea about Remuneration and employee performance.
ReplyDelete