Total Rewards; Base pay

Nov 3, 2021 | 0 comments

Nov 3, 2021 | Essays | 0 comments

Total Rewards; Base Pay
The CEOs announcement on the salary increment is the most humane thing a boss can do. Most bosses have the ability and opportunity to change his employee’s lives but they choose not to take that action. Dan gave his employees a chance to live better and not strain by increasing their minimum salaries to 70,000 dollars and he defends this by saying you only live once. A very good example we have is 29 year old Jose who was so overwhelmed by the increment and even admitted to calling his mum crying when he was given the good news. He has a student debt of 54000 dollars which he had to sacrifice a lot to pay and it is made clear that it will no longer be a problem to him with this increment. The employees decided to surprise their boss by buying a Tesla as a way of appreciating his sacrifice for them. He had been talking about the Tesla as what he wanted and since they were happy with him, they felt it was the best gift they could use to appreciate him. In this case, the employees felt they were appreciated for their good and hard work and in return they also made a choice to surprise their humane boss as a way of appreciation.
The strengths of increasing employee’s pay regardless of their job performance may include; it does not need any personalization because every individual gets paid and who would not want more pay? Secondly, the use of incentives can help in the improvement of the attitude of the employees and also help in the improvement of the atmosphere of work. On the other hand, the pitfalls of this action may include; when bonuses are given continuously, the employees may start seeing it as an entitlement instead of a motivator as it should be. Yes, best practices teach us that pay should relate to achievement of future goals. A very good example I have seen is, in a company, the bonuses were increased for every employee to motivate them work harder and meet their targets. In this case, most employees worked extra hard to meet their targets and avoid letting their bosses down. Everyone came out happy as the employees were motivated enough and the bosses were happy because they sold more as time went by.