Buy an essay: Use of compensation and rewards to engage and retain valuable staff

Nowadays, exist many methods of the use of compensation and rewards to engage and retain valuable staff. Methods differ but the sense remains. There are many talented people who do not get the full amount of the benefits they could, as the employers indicate on the crisis and other problems in the company. Encouraging people to work for the particular company means that the employee is valuable and that he is able to lead a company to the success, according to Human Capital Strategy (2011).
The relationship of the use of compensation and rewards to engage and retain valuable staff to human capital strategies is based on the intentions to show the staff that the company needs it and that the company can offer more to retain them. It may seem that the compensation and rewards are not the only motives that encourage people to work better and to stay working for the same company, but in reality rewards are one of the main components that make people stay where they are now and to get more benefits. Appreciation of workers is very essential, especially nowadays, as there are many companies that do not value their workers and hire only those who have just finished the University, as they can require lower salary, according to Employee Recognition, Rewards, Awards, and Thank You Ideas (2011).
According to Human Capital Strategy (2011), some companies try to succeed and value their workers. Other companies do not think about their employees and think that any compensation or awards can fix the situation and force a person to work better. Anyway, there are different situations when companies have no choice but to fire a person.
Sometimes people who work for a long time at one company get used to it and do not expect any other additional benefits. And when the time to change something, a person comes decides to quit the job and find something better. Then, sometimes, a company decides to keep an employee and offers him additional benefits that seem very lucrative to him. In this case, compensation and different awards from the company can change the whole situation and both the employee and the employer will be satisfied with the result, according to Human Capital Strategic Plan (2011).
There are always different strategies applied in the working environment trying to make it better and to get more positive results as an outcome. There is a certain relationship between the use of compensation and rewards to engage and retain valuable staff and human capital strategy, as many experts agree that “having the right people in place directly translates into better business performance – from increased operational efficiency and productivity to higher revenue and profitability to improved customer satisfaction and industry leadership.”, as stated in Human Capital Strategy (2011).
Appreciation among employees is extremely essential, and those companies that understand that, benefit a lot from this simple implementation in their HR department. Each company has to have implementation of strategies that will provide employees with the new approaches and that will guarantee compensation and rewards to engage and retain valuable staff. It can be surely said that the use of compensation and rewards to engage and retain valuable staff has always worked out, according to Top Ten Ways to Show Appreciation to Employees (2010). For example, if to take the Google Corporation, it can be clearly seen that the company uses different approaches to attract the best specialists all over the world into the Google offices. The company, as well, values each employee and offers the social guarantees and other benefits that are difficult to resist.
Successful companies can be distinguished from the unsuccessful companies in a way they relate to the employees, the way they value them and the way they can create the beneficial approaches, ideas and methods to keep people on their working places. Corresponding relation to the employees from the employer and the company as a whole determines the company’s approach to appreciate the labor and the efforts of people who work for the company, according to Top Ten Ways to Show Appreciation to Employees (2010).
All in all, the use of compensation and rewards to engage and retain valuable staff is beneficial for the company and for the employees that will get the corresponding benefits for their work, and also certain perspectives that a company will agree to offer. In the modern world with the current trends on the labor market, the companies have to strive to succeed by keeping the best professionals and hiring only qualified employees that will be able to lead the company to success and implement their new ideas, creativity and new approaches. Consequently, the appreciation of the employees that are the best, and the ability to choose and hire the most perspective people will bring more benefits for the company.

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