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Compensation and benefits. Compensation and benefits ( C&B) is a sub-discipline of human resources, focused on employee compensation and benefits policy-making. While compensation and benefits are tangible, there are intangible rewards such as recognition, work-life and development. Combined, these are referred to as total rewards. [1]
Benefits that are mandated are thought of as creating employee rights or entitlements, while discretionary benefits are intended to inspire employee loyalty and increase job satisfaction. Canada. Employee benefits in Canada usually refer to employer sponsored life, disability, health, and dental plans. Such group insurance plans are a top-up to ...
t. e. Human resource management ( HRM or HR) is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives.
The employee value proposition ( EVP) is a part of employer branding, in that it is one of the ways companies attract the skills and employees they desire and keep them engaged. It is how they market their company to prospective talent, and also how they retain them in a competitive job market. It is meant to communicate the values and culture ...
Many employer-provided cash benefits (below a certain income level) are tax-deductible to the employer and non-taxable to the employee. Some fringe benefits (for example, accident and health plans, and group-term life insurance coverage (up to US$50,000) (and employer-provided meals and lodging in-kind,) may be excluded from the employee's ...
The workplace strategy may facilitate meeting business objectives such as: reducing property costs, improving business performance, merging two or more organisations/cultures, and relocating or consolidating occupied buildings. In more simple terms, the workplace strategy provides a response to either running out of space, having too much space ...
Employee retention is the ability of an organization to retain its employees and ensure sustainability. Employee retention can be represented by a simple statistic (for example, a retention rate of 80% usually indicates that an organization kept 80% of its employees in a given period). Employee retention is also the strategies employers use to ...
Equity theory focuses on determining whether the distribution of resources is fair. Equity is measured by comparing the ratio of contributions (or costs) and benefits (or rewards) for each person. [1] Considered one of the justice theories, equity theory was first developed in the 1960s by J. Stacey Adams, a workplace and behavioral ...
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