Compensationfocused
Compensationfocused refers to an approach or strategy that prioritizes financial rewards as the primary motivator for employees. This method suggests that a significant portion of an employee's job satisfaction and performance is directly linked to their salary, bonuses, and other monetary benefits. Organizations that adopt a compensationfocused strategy often design their reward systems to be highly competitive within their industry, aiming to attract and retain top talent through lucrative pay packages.
Key elements of a compensationfocused strategy can include base salary, performance-based bonuses, profit-sharing schemes, stock options,
While this approach can be effective in driving performance and attracting skilled individuals, it is not without