Employee Compensation Is Critical For The Satisfaction,

Employee compensation is critical for the satisfaction, motivation, and preservation of the workforce within an organization. HR managers plan, direct, and coordinate salaries, retirement plans, health insurance, and other employee benefits that an organization offers its employees. An organization should spend a great deal of time and resources to plan, create, and implement effective employee compensation strategies. Accordingly, in my opinion HR managers need to carefully examine these strategies that will ultimately effect and meet the organization’s targets and objectives. According to Gerade (2003), the implementation of reward and compensation within an organization will alter an employee’s thought toward organizations view of†¦show more content†¦Having been in charge of civilian workers who fell under a union the aspects of not dealing with the individuals direct and having to directly deal with union representatives, I can understand the importance of HR in a corporate setting. According to Becker (1996), â€Å"Research was conducted is just beginning to establish the plausible range of these effects, but early work indicates that reasonable changes in an HR system can affect a firm s market value by $15,000-$45,000 per employee.† This is a mind-blowing fact since it was from 1996. Now 20 years later think about today’s organizational need for HRM since the globalization of companies when it comes to employee recruitment and selection that could span countries and not just states. I wanted to analyze the function of HR planning, recruitment, selection further because I do believe it is the most important out of all the functions I have covered. I also believe it is the foundation to tying all the other functions together in order for an organization to meet its goals. First, the planning aspect of hiring an employee can be the hardest but most critical. If HR personnel don’t have a solid plan to incorporate a global mindset for th e purpose of recruiting and selection, then their efforts will not yield the highest quality personnel. 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