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Essay On Employee Compensation

1604 Words7 Pages

The dissertation topic is about the compensation plans and employees performance, which is related to the different types of compensation pay and the effectiveness of employee compensation pay. Gerhart & Milkovich (1992) argue that compensation is one of the strongest determinates of workers motivation, behaviours, and attitudes. From the organisation’s perspective, effective management of employee compensation is very important. According to Milkovich and Gerhart (1991), the cost of compensation is accounting for 10 to 50 per cent of the total operating cost. In some labour-intensive organisation, the figure of the cost is more than 60 percent. Compensation has both direct (such as job satisfaction, employee performance, retention) and indirect …show more content…

Which compensation plans can improve the productivity of beauty salons in China?
2. How the compensation plans impact on the employee's earning?
3. What are the employees’ perceptions about compensation pay?

1.5 Research Gap
Comparing to the Sales industry, workers in the Beauty Salons requires more skills. Usually, the high skill of workers in Beauty Salons is one of the most important sources. In other words, the profitability of Beauty Salons is mainly relying on the quality of service and skills of employees. In accordance with this situation, employees’ performance is one of the conclusive elements which have a large impact on companies’ productivity. However, in practice, the turnover rate in Beauty Salon keeps rising recent years. Previous studies had explored the different types of compensation pay (McNabb and Whitfield, 2007), but rarely academics investigate the compensation pay in Beauty Salons. Understanding the relationship between compensation pay and employee’s performance is benefits to Beauty Salons retain high-skill employees and also improve the productivity. This study attempts to find an efficient compensation plan to Beauty Salon which could help companies increase profitability through encouraging employees work

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