Benefits & Compensation
beh·nuh·fits and kawm·puhn·sei·shn
A systematic approach to cash or kind returns awarded to employees in exchange for good/exemplary work. This can include recognition, paid time off, supplementary benefits, contribution towards retirement funds, access to a company car, equities, training programs, mentorship for professional growth, etc.
Companies need to evolve their Benefits & Compensation plans to keep their workforce happy. It is crucial to think of dynamic, attractive, and cost-effective alternatives to create a thriving work culture. However, it remains that the best benefit any organisation can give its employees is most often intangible in nature. It lies in the work culture, values and most importantly the attitude with which the leadership takes the organisation forward.