Answer 4 for HRM 635 Identify and explain two elements of the total compensation package that promotes organizational competitiveness that attracts and retains employees

Two elements of the total compensation package that promote organizational competitiveness that attracts and retains employees are performance-based incentives and health benefits. According to Dessler a great package offers base salary, benefits, short-term and long-term incentives (Dessler 2020). A performance-based incentive that is a good way to attract employees and yearly bonuses based on their performance. This is rewarding the employees based on their hard work to help the organization meet their goals. This sets the tone for excellence and encourages employees to work hard, which increases productivity. Now that everyone must have health coverage when an employer offers low to no cost health benefits that is a huge win. My current employer offers both and I absolutely work hard for a top tier bonus, and I wouldn’t even consider another employee that didn’t offer free health care such as my current employer.

Resource

Dessler, G. (2020). Human resource management (16th ed.). Pearson/Prentice Hall. ISBN-13: 9780135172780