Compensation, Rewards, and Employee Turnover
We argued in Chapter 2 that emphasizing the role of pay levels and pay satisfaction in understanding turnover decisions can be a misconception that managers turn to too quickly when diagnosing why employees are leaving. However, compensation is about much more than simply the amount in a paycheck. In this chapter we will examine three principles regarding the effective use of compensation and rewards as motivators for retaining key employees. The first principle we will discuss is that, as we saw in Chapter 2, although it is not all about pay, the structure and procedures associated with compensation and rewards can be important motivators of employee performance ...
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