1. Agree or disagree with the following statements then discuss:
a. Compensation or wages are based on the qualifications set by the management and also based on their performance in doing their tasks.
b. Compensation pay represents a reward that an employee receives from an employer for his/her good performance in the company.
2. Is compensation a motivational factor for an employee? Defend your answer.
3. Which is important on the perspective view of an employee: Compensation or non-financial compensation? Discuss your answer.
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1a. I agree with the statement that compensation or wages are based on the qualifications set by the management and also based on their performance in doing their tasks. This is because companies set standards and qualifications for employees in order to ensure that they have the necessary skills and knowledge to perform their jobs effectively. Performance-based pay is also important as it encourages employees to work harder and improve their skills in order to be rewarded with better compensation.
1b. I agree that compensation pay represents a reward that an employee receives from an employer for his/her good performance in the company. Employees who perform well and contribute to the success of the company deserve to be compensated accordingly. However, compensation should also be fair and just, and not based on favoritism or discrimination.
Yes, compensation can be a motivational factor for an employee. It is important for employees to feel valued and appreciated for their work, and compensation is one way to show this. When employees are compensated fairly and receive benefits, they are more likely to feel motivated to work hard and stay with the company.
Both compensation and non-financial compensation are important from the perspective of an employee. While compensation is important for providing financial security, non-financial compensation such as job satisfaction, work-life balance, and opportunities for career growth can also motivate employees to perform better. A good balance between the two can lead to a more satisfied and motivated workforce.